CS cuts SBI stock target price,EPS

Credit Suisse has cut its stock target price of State Bank of India SBI to 2,180 rupees from 2,483.07 rupees,but has maintained its 8216;neutral8217; rating on the shares as it expects profitability to continue to be under pressure for the country8217;s largest lender.

Post 1Q earnings miss and a slowdown in fees,higher tax rate and treasury loss,we reduce our FY12 and FY13 earnings per share EPS estimate by 13 percent and 4 percent respectively,Credit Suisse said in a note on Friday.

It forecasts FY12-13 credit costs at 1.1-1 percent for the bank.

Company INFO More on

Stocks More on