SBI Stock: Brokerages raise price targets on PSU scrip after Q1 results

SBI Share Price Target: State Bank of India (SBI) has received upward revisions in target prices from multiple brokerages after the lender posted double-digit growth in first-quarter profit and reported further improvement in asset quality.

SBI Q1 FY26 earnings highlights

The PSU bank's net profit for the April–June quarter rose 12 per cent year-on-year to Rs 19,160 crore, compared with Rs 17,035 crore in the same period last year. Total income climbed to Rs 1,35,342 crore from Rs 1,22,688 crore.

Operating profit for the quarter improved to Rs 30,544 crore from Rs 26,449 crore in the previous year’s corresponding quarter.

On the asset quality front, gross non-performing assets (NPAs) declined to 1.83 per cent of gross advances, from 2.21 per cent a year earlier. Net NPAs fell to 0.47 per cent from 0.57 per cent. Provisions and contingencies, however, rose to Rs 4,759 crore from Rs 3,449 crore in the year-ago period.

The bank’s capital adequacy ratio improved to 14.63 per cent from 13.86 per cent last year.

Analysts see almost 21% upside

Jefferies has maintained a 'buy' call on the banking stock and raised its target price to Rs 970--suggests a 20.87 per cent upside from Friday's closing--from Rs 960, citing strong earnings momentum and healthy asset quality trends. HSBC also reiterated a 'buy' stance, increasing its target to Rs 960 from Rs 950, while highlighting SBI’s consistent operating performance and balance sheet strength.

Meanwhile, domestic brokerage JM Financial also maintained its 'buy' recommendation and raised its 12-month price target to Rs 950 from Rs 925--implying an upside potential of 18 per cent.

(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)