ICICI Bank Limited (IBN) : Analyst Rating Update

ICICI Bank Limited (IBN) : The consensus on ICICI Bank Limited (IBN) based on 1 analyst recommendation on the company stock is 1, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 1 brokers have a differing view as they consider the stock to be a Strong Buy at current levels.

ICICI Bank Limited (NYSE:IBN): The stock opened at $7.10 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.30 for the day. The stock traded down to $7.06 during the day, due to lack of any buying support eventually closed down at $7.20 with a loss of -0.69% for the day. The stock had closed at $7.25 on the previous day. The total traded volume was 13,328,813 shares.

Also, Major Brokerage house, Goldman Sachs downgrades its ratings on ICICI Bank Limited (NYSE:IBN). According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on May 3, 2016. The company shares have dropped -27.72% from its 1 Year high price. On Jul 13, 2015, the shares registered one year high at $10.62 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $7.12 and the 200 Day Moving Average price is recorded at $6.84.

ICICI Bank Limited is a banking company. The Bank is a financial services group providing a range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services. Its operating segments include Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance and Others. Retail banking includes exposures of the Bank, which satisfy the criteria of orientation, product, granularity and low value of individual exposures for retail exposures laid down in Basel Committee on Banking Supervision document International Convergence of Capital Measurement and Capital Standards: A Revised Framework. Wholesale banking includes all advances of the Bank to trusts, partnership firms, companies and statutory bodies. Treasury includes the entire investment and derivative portfolio of the Bank.

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