The Economic Times

Jefferies cuts HDFC Bank share price target but retains Buy after CEO opts out of new term. Heres why

Jefferies retained its Buy rating on HDFC Bank but cut the target price to Rs 880 from Rs 1,050 following CEO Sashidhar Jagdishans decision not to seek reappointment. The brokerage flagged near-term risks to deposit mobilisation and fee income but said valuations remain undemanding.