Macquarie prediction on stock:
In a recent move, Macquarie has upgraded the stock ratings for Kotak Mahindra Bank and SBI Life to ‘outperform’. The brokerage has also increased the share price target for Kotak Mahindra Bank to Rs 2,025 and for SBI Life to Rs 1,750.
Conversely, agency has downgraded Bajaj Finance’s stock rating from ‘neutral’ to ‘underperform’, reducing its share price target to Rs 6,600. The rating for SBI has also been lowered to ‘underperform’.
Macquarie highlighted that private sector banks are currently at attractive valuations and are projected to achieve a 16-18 percent Return on Equity (RoE) over the next few years. The brokerage advised against investing in public sector banks, insurance firms, and fintech stocks due to ongoing regulatory challenges.
