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SBI Share Price: An opportunity to accumulate if stock falls, analysts say after Q4 resultsSBI expects credit growth of 12–13% in FY26, while margins may contract gradually due to recent sharp rate cuts, albeit cushioned by a higher share of MCLR-linked loans. Asset quality is expected to remain healthy, as will credit costs.By Meghna Sen   May 5, 2025, 8:57:27 AM IST (Updated)2 Min ReadShares of State Bank of India Ltd. will react to its March quarter earnings on Monday, May 5. The country's largest lender posted a slightly soft quarter, as credit growth moderated to 12.4% year-on-year due to pre-payments in the corporate loan book. Higher operating expenses and provisions led to an earnings miss, with profit at ₹18,600 crore.

SBI expects credit growth of 12–13% in FY26, while margins may contract gradually due to recent sharp rate cuts, albeit cushioned by a higher share of MCLR-linked loans. Asset quality is expected to remain healthy, as will credit costs.

Global brokerage firm JPMorgan has maintained an 'Overweight' rating on SBI, with a price target of ₹915 per share.

While core trends remain stable, they are not particularly exciting. Loan growth of 12% on-year was muted due to repayments in the corporate segment.

JPMorgan expects SBI’s net interest margin (NIM) to decline by 12-15 basis points in FY26, as the monetary easing cycle progresses.

The brokerage wrote in its note that any potential dip in SBI's stock price, stemming from NIM pressure, as a buying opportunity for long-term investors.

CLSA has maintained an 'Outperform' rating on SBI, with a price target of ₹1,050 per share.

The brokerage said that SBI's higher treasury gains and other income led to a profit beat. Its loan growth moderated to 12% on-year from 14%-15% two quarters ago. Deposit growth remained sluggish at 9-10%.

CLSA mentioned that while SBI's NIM remains stable, it still lags behind the top three private sector banks.

The brokerage has cut its earnings estimates by 4%, citing slower loan growth and some NIM compression.

Bernstein has a 'Market-Perform' rating on SBI, with a price target of ₹900, while UBS has a 'Neutral' rating and a price target if ₹840 per share.

Building in some growth slowdown and margin contraction, Emkay Global has slashed its FY26-27E earnings by 4-5% and its price target by 5% to ₹975 from ₹1,025 earlier. The brokerage has retained a 'Buy', given attractive valuations.

Of the 51 analysts that have coverage on SBI, 41 of them have a 'Buy' recommendation on the stock, nine say 'Hold', while one of them has a 'Sell' rating.

SBI shares ended 1.41% higher last Friday ahead of the results announcement at ₹799.80. The stock has risen over 7% in the last one month.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.First Published: May 5, 2025 8:49 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsearningsSBISBI share priceState Bank of India (SBI)