Price Action Don’t Lie: Will ICICI Bank Ltd (ADR) Go Down Anytime Soon?

Price Action Don't Lie: Will ICICI Bank Ltd (ADR) Go Down Anytime Soon?

The stock of ICICI Bank Ltd (ADR) (NYSE:IBN) is a huge mover today! About 5.19 million shares traded hands. ICICI Bank Ltd (ADR) (NYSE:IBN) has risen 31.75% since February 29, 2016 and is uptrending. It has outperformed by 19.53% the S&P500.
The move comes after 9 months positive chart setup for the $22.47B company. It was reported on Oct, 3 by Barchart.com. We have $11.67 PT which if reached, will make NYSE:IBN worth $12.13 billion more.

Analysts await ICICI Bank Ltd (ADR) (NYSE:IBN) to report earnings on November, 4.

ICICI Bank Ltd (ADR) (NYSE:IBN) Ratings Coverage

Out of 4 analysts covering ICICI Bank (NYSE:IBN), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. ICICI Bank has been the topic of 7 analyst reports since August 19, 2015 according to StockzIntelligence Inc. The rating was upgraded by Zacks to “Hold” on Thursday, September 3. Standpoint Research upgraded the stock to “Hold” rating in Wednesday, August 26 report. The rating was downgraded by Goldman Sachs on Tuesday, May 3 to “Neutral”. The stock of ICICI Bank Ltd (ADR) (NYSE:IBN) earned “Sell” rating by Zacks on Tuesday, August 25. Goldman Sachs upgraded the shares of IBN in a report on Monday, September 14 to “Buy” rating. The firm has “Outperform” rating given on Thursday, April 21 by Credit Suisse. Zacks upgraded the stock to “Sell” rating in Wednesday, August 19 report.

According to Zacks Investment Research, “ICICI Bank offers a wide range of banking products and services to corporate and retail customers through a variety of delivery channels.”

Another recent and important ICICI Bank Ltd (ADR) (NYSE:IBN) news was published by Quotes.Wsj.com which published an article titled: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011.

IBN Company Profile

ICICI Bank Limited (the Bank), incorporated on January 5, 1994, is a banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury services and products.

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