IDFC First Bank shares can rally 23%, says Nomura after initiating coverage with Buy call

With a target price of Rs 105, analysts implied an upside potential of 23.5% from current market levels.Nomura said growth visibility remains strong, with loans and deposits expected to clock CAGRs of 20% and 22%, respectively, over FY26-28F. The bank’s fee income profile, at over 2% of average assets, remains superior to peers.In addition, a 35 basis points decline in credit costs is likely to support a sharp improvement in profitability, lifting RoA and RoE to 1.2% and 1.8% by FY28, respectively, from 0. ...