Banks · SBIN
Banks - PSU
from 1,097 today
State Bank of India reported a healthy earnings beat for 1QFY27 driven by robust treasury and controlled opex, leading to a raised earnings estimate and a revised target price of INR1,370 while reiterating a BUY rating.
State Bank of India reported a core performance beat in 1QFY27 led by margins, higher treasury gains, and lower credit costs. We maintain our BUY rating with a revised target price of INR 1,255.
State Bank of India delivered healthy performance for another quarter, marked with >1% RoA and ~15% RoE, with NII, PPoP and PAT exceeding our as well as consensus estimates in Q1FY27. We maintain BUY rating on the stock with an SOTP-based TP of Rs1,337, valuing its core operations at 1.5x FY28e P/ABV and subsidiaries at Rs217/share.
SBI saw a good quarter due to better core revenue and asset quality. We keep multiple of 1.4x on Mar’28 core ABV and maintain TP at INR 1,200, retaining a BUY rating.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
