Analysts cut target prices on SBI stock as lender misses Q4 estimates

SBI Q4 result review: Global brokerage Nomura has cut the lender's target from Rs 650 to Rs 610 as it reported flat net interest margin (NIM) of 3.15 per cent

Most brokerages have cut their one-year target price on State Bank of India's (SBI's) stock after India's largest state-owned banking entity posted below par results for the January-March quarter (Q4FY22). Shares of the lender had dropped 5 per cent on Friday, after the bank announced its results, but bounced back 2.3 per cent to Rs 455 per share on Monday as against a 0.34 per cent rise in the benchmark S&P BSE Sensex.

Going ahead, analysts expect incremental stock price performance to be driven by pick-up in credit growth, and steady improvement in asset quality and return profile as the