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Highlights

  • Goldman Sachs has given 'Sell' rating on SBI
  • Brokerage firm expects several headwinds for SBI
  • Brokerage firm has reduced target price to ₹742 per share

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Goldman Sachs Recommends Selling SBI Shares, Lowers Target Price to ₹742

Brokerage firm Goldman Sachs has given a 'Sell' call on SBI, India's largest public sector bank by market capitalisation. The brokerage firms expects several headwinds for SBI and therefore its has also reduced the target price for SBI to ₹742/share.

Updated: Sep 02, 2022 10:53
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Editorji News Desk

Goldman Sachs Recommends Selling SBI Shares, Lowers Target Price to ₹742

Sell SBI shares - That's the call from Goldman Sachs.

But why is the brokerage firm making this recommendation?

Well, Goldman Sachs thinks SBI might be heading for some tough times.

The brokerage firm is saying SBI's profits from its assets have probably peaked and might start dropping.

Plus, they expect SBI’s loans growth to drop.

Also, they believe SBI's credit costs will go up due to rising bad loans, especially from small businesses and farmers.

And that is why Goldman Sachs has reduced its target price for SBI shares to 742 rupees.

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