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;))
Recent news on State Bank Of India
See all newsIndia bank capital fail is more farce than tragedy
India bank capital fail is more farce than tragedy
State Bank of India reports cyberattack involving nearly 3,900 customer records (updated)
State Bank of India reports cyberattack involving customer records
Brief: State Bank Of India Experienced An Incident Involving The Loss Of Certain Data