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SBI Stock Could Soar to ₹1,170 as Brokerages Raise Targets
Shares of State Bank of India (SBI), the country’s largest lender, could climb to ₹1,170 over the next 12 months, according to analyst projections. This figure represents the highest price target among experts tracking the banking giant.
Strong Buy Consensus Among Analysts
A commanding majority of the 50 analysts covering SBI paint an optimistic picture. The numbers are striking: 41 experts recommend “buy,” eight suggest “hold,” and only one advises “sell.” The consensus price targets indicate a potential upside of 8.6% from current trading levels.
CLSA leads the bullish pack by raising its target price from ₹1,050 to ₹1,170, the highest among all brokerages. The firm maintains its “accumulate” rating, signaling increased confidence in the bank’s growth trajectory.
HSBC and Nomura Raise Expectations
HSBC upgraded its target from ₹960 to ₹1,110 while reiterating its “buy” recommendation. The brokerage highlighted healthy loan growth and a strengthening revenue trajectory as key positive drivers. Stable asset quality further bolsters the optimistic outlook.
HSBC analysts revised their Earnings Per Share (EPS) estimates upward by 6% to 9% for fiscal years 2026-2028. The upgrades reflect expectations of higher loan growth, improved margins, and stronger fee income. “A stronger core Pre-Provisioning Operating Profit trajectory warrants higher multiples,” the firm noted in its research report.
Nomura raised its price target from ₹980 to ₹1,100, citing multiple growth factors. The Japanese brokerage increased its FY2026 EPS estimate by 6% due to one-off gains, while FY2027-2028 projections saw a 3-5% boost driven by better margins and loan expansion.
Potential Value Unlocking Opportunities
Jefferies elevated its target from ₹970 to ₹1,140, drawing attention to potential monetization strategies. Analysts suggest the bank may look to capitalize on its stakes in SBI Asset Management Company and SBI General Insurance through future divestments or listings.
Citi, which recently resumed coverage, marginally raised its target from ₹1,050 to ₹1,110 while maintaining a “buy” stance. The brokerage expects minimal Expected Credit Loss (ECL) impact and highlighted management’s emphasis on value creation through potential listings of either the asset management or general insurance businesses.
Stock Trading at All-Time Highs
SBI shares closed 0.6% higher on Tuesday, recovering from intraday lows following the results announcement. The stock is currently trading at record levels, reflecting strong market confidence. According to Nomura’s projections, the bank could deliver 1.1% Return on Assets and 16% Return on Equity during FY2027 and FY2028.
The wave of upgraded price targets across multiple brokerages reflects growing confidence in SBI’s fundamentals and growth prospects. With improved earnings visibility, stable asset quality, and potential value unlocking through subsidiary listings, the banking stock remains a key focus for market participants in the coming quarters.
