Analysts see up to 41% upside in SBI, BoB; credit growth to be key driver

Shares of State Bank of India (SBI) and Bank of Baroda (BoB) jumped 3 per cent and 9.7 per cent, respectively, in intra-day trade on Monday, and hit fresh record highs of Rs 547 and Rs 117 apiece

Shares of State Bank of India (SBI) and Bank of Baroda (BoB) jumped 3.5 per cent and 9.7 per cent, respectively, in intra-day trade on Monday, and hit highs of Rs 549 (record high) and Rs 117 (fresh 52-week high) apiece, after the public sector lenders reported strong December quarter results on Saturday. They, eventually, ended 0.5 per cent and 5.7 per cent higher at Rs 533 and Rs 113, respectively. In comparison, the benchmark S&P BSE Sensex settled 1.7 per cent lower. 

This has tempted analysts to upgrade target prices and earnings forecasts for coming years. They, now, see