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CLSA reiterates buy rating on Axis Bank; expects further re-rating of 40-70%

Updated : February 12, 2021 02:27 PM IST

CLSA has a buy rating on Axis Bank with a target price of Rs 1,000. However, they believe that there is a potential for further re-rating of 40-70% and that the bank can deliver 16% plus return on equity (RoE).

Axis Bank CEO in a call with investors reiterated that earnings were a lot more granular hereon. The banks approach of creating a niche is likely to deliver going forward.

CNBC-TV18’s Nimesh Shah gets more details on CLSA’s report on Axis Bank.

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