Bullish on HDFC Bank, initiating coverage with a 'Buy' call and a target price of ₹861. The bank's core-PPOP inflection, driven by margins and operating leverage, along with attractive valuations, are key reasons for the positive outlook, despite expectations of further downside earnings revisions.

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

HDFC BankBullishCalled 27 Aug 2026
Verdict:PENDING

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Tracking HDFC Bank since this call

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