Morgan Stanley ups private banks’ price aim factoring in 30-40% gains

Morgan Stanley has upgraded its price target for India's large private banks as it expects the lenders to maintain their growth momentum, bolstered by strong balance sheets and market share gains. ICICI Bank Ltd, HDFC Bank Ltd and Axis Bank Ltd are the brokerage's top picks, while it said IndusInd Bank Ltd should also benefit from the cyclical tailwinds.