India's SBI rises; Jefferies reaffirms lender as top pick, sees 13%-15% loan growth
BUZZ-India's SBI rises; Jefferies reaffirms lender as top pick, sees 13%-15% loan growth ** Shares of State Bank of India SBI.NS rise as much as up 0.95% to 1,000.90 rupees
** Jefferies reiterated its "buy" rating on SBI with a PT of 1,320 rupees, and the lender remains one of its top picks
** Brokerage sees sustained growth and profitability despite macroeconomic concerns as it targets 13%-15% in FY28 loan growth while maintaining strong asset quality and operational discipline
** Jefferies sees 13% loan CAGR over FY26-29, ROE of around 15% in FY28, and growth opportunities across subsidiaries including SBI Life SBIL.NS, SBI AMC and SBI Cards SBIC.NS
** Says SBI is prioritising high-quality corporate and SME lending, while healthy retail deposit growth, stable asset quality and fee income continue to support earnings
** Thirty-eight analysts have a "buy" on avg for SBI; median PT is 1,270 rupees, according to LSEG-compiled data
(Reporting by Urvi Dugar in Bengaluru)
((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))
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