JPMorgan raises ICICI Bank target to INR 1,800 for ICICI Bank stock

Published on 10/25/2026 at 01:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

JPMorgan lifted its target to INR 1,800 on October 18, 2026. Q2 profit rose 20.1 percent, supporting ICICI Bank stock.

Growth and valuation markers

JPMorgan raised its ICICI Bank target to INR 1,800 on October 18, 2026.
Fiscal second-quarter profit after tax increased 20.1 percent through September 30, 2026.
ICICI Bank had a USD 105.8 billion market capitalization on October 23, 2026.

IBN, US45104G1040, Illustration mit AI erstellt.

ICICI Bank (US45104G1040) reported fiscal second-quarter profit after tax of INR 14,843 crore, up 20.1 percent year over year, for the period ended September 30, 2026, according to ICICI Bank. On October 18, 2026, Investing.com reported that JPMorgan raised its target for the stock from INR 1,735 to INR 1,800 while maintaining an Overweight rating.

Three dates define the setup

On September 30, 2026, ICICI Bank's total loan portfolio had grown 30.0 percent year over year, according to ICICI Bank. On October 17, 2026, the bank published fiscal second-quarter results showing deposits up 27.1 percent year over year and a net interest margin of 4.18 percent, down from 4.30 percent a year earlier, according to ICICI Bank. On October 18, 2026, JPMorgan's target increase added a valuation catalyst after the results.

What matters more than growth?

The margin trend is the key counterweight to the earnings growth. Net interest income increased 17.7 percent year over year to INR 25,339 crore in fiscal second-quarter 2027, while the 4.18 percent net interest margin was lower than both the prior quarter's 4.36 percent and the year-earlier 4.30 percent, according to ICICI Bank. The bank said foreign-currency non-resident deposits supported funding, but the larger deposit base also put pressure on margins.

The balance sheet supplied a second growth signal. Business banking loans increased 33.8 percent year over year and domestic corporate lending grew 30.6 percent in the quarter ended September 30, 2026. Asset quality also improved, with the net non-performing asset ratio at 0.30 percent versus 0.39 percent a year earlier, according to ICICI Bank.

Next date and market value

The next earnings date is January 15, 2027, according to Gekko. ICICI Bank had a USD 105.8 billion market capitalization on October 23, 2026, with a 52-week range of USD 25.08 to USD 31.78.

The further course of trading is shown by the continuously updated real-time quote of ICICI Bank stock.