Multiple brokerages raised their target prices and maintained positive ratings after SBI’s Q2FY26 results beat estimates across net interest income, pre-provision operating profit, and profit after tax.
Multiple brokerages raised their target prices and maintained positive ratings after SBI’s Q2FY26 results beat estimates across net interest income, pre-provision operating profit, and profit after tax. Axis Securities upgraded its target to ₹1,135 from ₹1,055, maintaining a buy rating, while crediting margin resilience and cost discipline for reinforcing the bank’s ability to sustain return on assets above one per cent. The brokerage raised its earnings estimates for FY26-28 by up to 10.4 per cent and expects the bank to maintain domestic net interest margins above three per cent.
JM Financial raised its target to ₹1,105, citing solid core performance and sustained growth momentum. Anand Rathi increased its target to ₹1,104 from an earlier level, highlighting better-than-industry growth and higher net interest margins that expanded seven basis points quarter-on-quarter to 2.97 per cent. The brokerages noted strong loan growth of 3.9 per cent quarter-on-quarter, improvement in current and savings account ratios, and healthy fee income growth of 25.4 per cent year-on-year as key positives supporting the upward revisions.
Published on November 6, 2025
