JPMorgan raises target for ICICI Bank stock after Q2 profit growth

Published on 10/21/2026 at 09:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 profit after tax rose 20.1 percent to INR 148.43 billion. ICICI Bank stock costs EUR 26.75 on October 21, 2026.

Analyst targets follow quarterly growth

ICICI Bank's profit after tax rose 20.1 percent to INR 148.43 billion in Q2-2027 ended September 30, 2026.
JPMorgan lifted its target from INR 1,735.00 to INR 1,800.00 on October 18, 2026.
ICICI Bank stock trades at EUR 26.75 at 9:29 a.m. CEST at Lang & Schwarz on October 21, 2026.

IBN, US45104G1040, Illustration mit AI erstellt.

ICICI Bank (ISIN US45104G1040) reported profit after tax of INR 148.43 billion for the quarter ended September 30, 2026, up 20.1 percent from the year-earlier quarter. The result was followed by a higher JPMorgan target, while the stock was quoted at EUR 26.75 at Lang & Schwarz at 9:29 a.m. CEST on October 21, 2026.

Quarterly profit sets the tone

According to ICICI Bank on October 17, 2026, net interest income increased 17.7 percent year over year to INR 253.39 billion in Q2-2027. Core operating profit rose 21.8 percent to INR 208.05 billion, while the bank's loan portfolio expanded 30.0 percent to INR 1.83158 trillion at September 30, 2026.

The growth came with a margin trade-off. Net interest margin was 4.18 percent in Q2-2027, down from 4.30 percent in Q2-2026, while the gross non-performing asset ratio improved to 1.20 percent from 1.58 percent.

What does the target change mean?

Investing.com reported on October 18, 2026 that JPMorgan raised its ICICI Bank target from INR 1,735.00 to INR 1,800.00 and kept an Overweight rating. The bank also lifted its fiscal-year 2027, 2028 and 2029 earnings forecasts by 4 percent, 5 percent and 3 percent, respectively.

Three recent milestones

On October 15, 2026, Barchart cited expectations for adjusted earnings per share of USD 0.40 and revenue of USD 3.47 billion for the September quarter. ICICI Bank then published its Q2-2027 figures on October 17, followed by the JPMorgan target increase on October 18. The sequence places loan growth and margin resilience at the center of the valuation debate.

The stock before the open

For investors in Germany, the euro quotation provides the immediate market reference, while the US listing remains the primary venue. ICICI Bank's market capitalization was USD 105.8 billion as of October 20, 2026, and its 52-week range was USD 25.08 to USD 31.85.

ICICI Bank stock was trading at EUR 26.75 at Lang & Schwarz on October 21, 2026 at 9:29 a.m. CEST.

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