Morgan Stanley believes SBI is well-placed to capitalise cyclical lift

Morgan Stanley has raised its one-year target price to Rs 600 apiece. In their bull-case, the target price is pegged at Rs 830, implying a 100 per cent upside from Wednesday's close

The rally in State Bank of India’s (SBI’s) stock may have gotten another leg with global brokerage Morgan Stanley raising its one-year target price to Rs 600 apiece. In their bull-case, the target price is pegged at Rs 830, implying a 100 per cent upside from Wednesday’s close. 
 

“SBI has built a strong retail franchise and also sustained its deposit market share. Even on digitization, the progress has surprised, unlike other state-owned banks. As the corporate cycle turns, we expect earnings estimate upgrades and significant re-rating,” it said in its report dated February 17.
 

The shares hit a fresh lifetime