Archive · 21 Aug 2026
Goldman Sachs Recommends Selling YES Bank, PNB; Buying HDFC, ICICI
Goldman Sachs studied several bank stocks.
It told investors to sell YES Bank shares.
It set a target price of Rs 22 for YES Bank.
It also told investors to sell Punjab National Bank shares.
Its target price for PNB was Rs 103.
These targets suggest that both stocks could fall from their current prices.
Goldman Sachs recommended buying HDFC Bank and ICICI Bank.
ICICI Bank was described as having the biggest possible gain, at 37%.
Goldman Sachs initiated coverage of several Indian bank stocks.
The brokerage rated YES Bank a Sell with a Rs 22 target.
Goldman Sachs also rated Punjab National Bank a Sell with a Rs 103 target.
The targets imply about 3.3% downside for YES Bank and 13% downside for PNB.
ICICI Bank was identified as having the highest potential upside at 37%, while HDFC Bank was recommended as a Buy.
- Who
- Goldman Sachs and the banks covered in its stock research.
- What
- Goldman Sachs issued Buy and Sell recommendations and target prices for several bank stocks.
- When
- The article does not specify when the coverage was initiated.
- Where
- The article discusses bank stocks but does not specify a location.
- Why
- The recommendations were based on Goldman Sachs' assessment of potential upside and downside from prevailing share prices.
- YES Bank rating
- Sell
- YES Bank target
- Rs 22, implying 3.3% downside
- Punjab National Bank rating
- Sell
- Punjab National Bank target
- Rs 103, implying 13% downside
- Highest potential upside
- ICICI Bank, at 37%
- Buy recommendations
- HDFC Bank and ICICI Bank
- Other banks mentioned
- Kotak Mahindra Bank, State Bank of India, IDFC First Bank, Federal Bank and IndusInd Bank