Wall Street major Jefferies has slashed the target price of HDFC Bank shares to Rs 880 from Rs 1,050 per share, forecasting a fresh upside of 22% from current levels after the lender announced that its CEO Sashidhar Jagdishan won't seek extension beyond his term that ends on October 26.
“We will watch out if this leads to an exit among senior leaders of the bank. This can impact business and performance in the near term,” analysts at the firm said.
