ICICI Bank Q2 earnings beat prompts broker upgrades and high upside targets
ICICI Bank posted a 20.1% year‑on‑year increase in net profit for the September quarter, reporting Rs 14,843 crore, ahead of estimates. The results featured a 17.7% rise in net interest income to Rs 25,339 crore and a net interest margin of 4.18%. Major brokerages such as Goldman Sachs, JPMorgan, Nomura, Bernstein and others raised their price targets, with upside expectations ranging from about 25% to 45%. The stock traded around Rs 1,386 after an intraday swing above Rs 1,400.
Why it matters
Analysts expect the upgraded targets to support the share price, with Goldman Sachs forecasting a 45% gain to Rs 2,025 and other banks seeing upside of 25‑30% (sources 1,2,3). The higher guidance on loan and deposit growth suggests continued earnings momentum for the bank.
Key facts
- 1Net profit grew 20.1% YoY to Rs 14,843 crore for the September quarter, beating the poll estimate of Rs 14,280 crore. tradingview.com
- 2Net interest income increased 17.7% YoY to Rs 25,339 crore. tradingview.com
- 3Net interest margin was 4.18% in Q2, down from 4.36% in the prior quarter and 4.30% a year earlier. tradingview.com
- 4Total advances rose 30% YoY to Rs 18.32 lakh crore. tradingview.com
- 5Deposits grew 27.1% YoY to Rs 20.50 lakh crore. tradingview.com
- 6Goldman Sachs set a target price of Rs 2,025, implying roughly 45% upside from the closing price of Rs 1,397. tradingview.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.