SBI stock may rally another 40% after hitting record high: Analysts

The series of price-target upgrades continued for the sixth consecutive quarter for the state-owned lender as it reported a 7 per cent decline in net profit at Rs 5,196 crore for the December quarter

When State bank of India (SBI), with nearly 20-25 per cent market share, records a beat on its quarterly earnings, especially amid a global pandemic, the feat is sure to invite re-rating from analysts. 
 

The series of price-target upgrades continued for the sixth consecutive quarter for the state-owned lender as it reported a 7 per cent decline in net profit at Rs 5,196 crore for quarter ended December 2020. That compares with the Rs 4,479-crore consensus estimate of analysts tracked by Bloomberg.
 

On the asset quality front, SBI’s gross non-performing asset ratio stood at 4.77 per cent compared with 5.28