Archive · 21 Aug 2025
Jefferies Maintains HDFC Bank as Top Pick, Upside Bet
Imagine a big financial analysis company called Jefferies is recommending people to buy shares of HDFC Bank.
They think the stock price could go up by 21%.
Jefferies believes HDFC Bank is doing well because it's growing, the bank's loans are safe, and the merger with HDFC has created opportunities.
The bank expects to grow and get more customers.
Although external factors are a challenge, Jefferies sees the bank's attrition rates decreasing.
Jefferies maintains a Buy rating on HDFC Bank.
The target price for HDFC Bank is set at Rs 2,400, implying a 21% upside.
Jefferies cites improved growth, stable asset quality, and merger synergies as key factors.
Credit growth is expected to improve to 11% in FY26.
The attrition rate at HDFC Bank has fallen from 34% in FY23 to 23% in FY25.
- Who
- Jefferies, an international brokerage house, is providing analysis on HDFC Bank.
- What
- Jefferies has a Buy rating on HDFC Bank.
- When
- The article discusses current financial projections and recent trends.
- Where
- India
- Why
- Jefferies believes HDFC Bank has significant growth potential.
- Target Price
- Rs 2,400
- Implied Upside
- 21%
- Loan Growth (FY26)
- 11%
- Attrition Rate (FY23)
- 34%
- Attrition Rate (FY25)
- 23%
