Here's Why ICICI Bank Limited (IBN) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
ICICI Bank Limited (IBN)
Headquartered in Mumbai, India, ICICI Bank Limited was formed in 1955 at the initiative of the World Bank, the government of India and Indian industry representatives. The company offers a wide range of banking products and financial services to corporate and retail customers.
IBN boasts a Growth Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 20.2% year-over-year for 2023, while Wall Street anticipates its top line to improve by 9.4%.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.01 to $1.07 per share. IBN also boasts an average earnings surprise of 10.1%.
On a historic basis, ICICI Bank Limited has generated cash flow growth of 36.3%, and is expected to report cash flow expansion of 69.5% this year.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, IBN should be on investors' short lists.
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ICICI Bank Limited (IBN) : Free Stock Analysis Report
