ICICI Bank's re-rating to be gradual, say analysts; see up to 36% upside

ICICI Bank Q1FY24 results: At the bourses, shares of ICICI Bank hit a new record high of Rs 1,009 on the BSE, rising 1 per cent in the intra-day trade

ICICI Bank Q1FY24 results analysis: With a solid 40 per cent year-on-year growth in net profit in the April-June quarter (Q1) of financial year 2023-24 (FY24), ICICI Bank has further cemented its place as the "best in class" bank, analysts said on Monday.

Lauding the lender's outperformance over peers in the recently concluded quarter, they have retained their 'buy' calls on the stock with target prices ranging from Rs 1,150 to Rs 1,350, suggesting a potential upside of up to 36 per cent over the next one year.

At the bourses, shares of the Mumbai-based bank hit a new record