State Bank of India (SBI): Important report from Morgan Stanley - this is what it says
State Bank of India (SBI) has much option value; both in earnings (1% Rod) and multiples. Morgan Stanley bull case scenario >100% upside) reflects this. SBI retail franchise has improved, and the corporate cycle is turning Morgan Stanley see material upside risk. Morgan Stanley raised SBI share price target to Rs 600; they now apply a 25% bull case weight to the core.
Morgan Stanley thinks SBI looks best placed in the current cycle. Morgan Stanley’s macro team expects a virtuous growth cycle in India and has further raised its GDP growth estimates for F22,23: Reuters