Bullish on Axis Bank with a 'Buy' call and a target price of ₹1,477, implying 19% upside from ₹1,245.8. Cyclical headwinds are largely behind, with margins expected to recover in FY28. The bank offers a good risk-reward profile, supported by a rebound in core PPoP growth to 18% CAGR during FY27-FY29. Digital platform traction could lead to upside surprise and material re-rating.

Goldman Sachs Analysis’s track record: 3 graded calls · 95% CI 21–94%

Axis BankBullishCalled 22 Aug 2026
Verdict:PENDING

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