Axis Bank stocks could see bumper gains – brokerage houses boost confidence, up to 44% chance of earning returns

Brokerage at Axis Bank: Every day in the stock market there is a trigger on one or the other stock, after which various brokerage firms issue their latest report on that stock. Recently, the private sector major Axis Bank acquired Citigroup’s customer banking business in India for over Rs 12,325 crore, including credit card, retail banking, consumer credit and asset management. The bank said this on Wednesday. Since the acquisition, many brokerage firms have maintained their buying views on Axis Bank shares and set new targets for investors. Before going through the brokerage call, let’s understand the agreement between Axis Bank and Citigroup.

Axis Bank has entered into an agreement with Citigroup

Axis Bank has acquired Citigroup’s Indian consumer and asset business. After the acquisition, Axis Bank’s Citibank will have about 3 million customers and the credit card portfolio will grow by 31 percent. Following this announcement, many brokerage houses have retained their buying views on the stock. If you have these stocks in your portfolio or investors want to invest here, first know the latest call from the brokerage.

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What brokerage firms say about Axis Bank

CLSA holds a buy position on Axis Bank shares. The target for shopping here is Rs 1080. The brokerage firm says Axis Bank will benefit from Citi India’s retail business.

Also, Morgan Stanley has retained the idea of ​​being overweight here and has set a target of 9 910 to buy here. Jefferies, on the other hand, retained its buying opinion and set a target price of Rs 1,040.

Opinions of McCurry and JP Morgan

Macquarie Axis Bank maintained its neutral position on the stock and set a target price of Rs 790. The company said the stock was trading at 1.8 times FY23’s estimated P / BV. Also, JP Morgan maintained a neutral rating on the stock and set a target price of Rs 770.

(Disclaimer: Investment advice here is provided by a brokerage house / expert. This is not a G-Business opinion. Consult your advisor before investing.)