Market share, valuation: 5 reasons why CLSA is bullish on SBI amid Covid-19

In a report dated August 20, CLSA upped the target price on the stock to Rs 310, translating into 59.2 per cent upside from Thursday's closing price on the BSE

India's largest public sector bank, State Bank of India (SBI), is firming its position as analysts' favourite in the banking sector amid the Covid-19 pandemic. Despite the potential instability in the financial sector due to fear of spurt in non-performing assets (NPA), global brokerage CLSA sees SBI as "a deep value opportunity", as it believes the bank is relatively better positioned on asset quality post Covid-19, and is driven by high government / PSU share in loan book.

In a report dated August 20, CLSA upped the target price on the stock to Rs 310, translating into 59.2 per cent