Strength Seen in ICICI Bank: Stock Soars 10%
ICICI Bank Ltd. (IBN) was a big mover last session, as the company saw its shares rise over 10% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company since May 8, as the stock is now trading above the volatile price range of $44.60 to $49.64.
In the last 7 days, the company witnessed no estimate revision, while the Zacks Consensus Estimate remained unchanged. Friday’s action is encouraging though, so make sure to keep a close watch on this firm in the near future.
ICICI Bank currently has a Zacks Rank #1 (Strong Buy) while its Earnings ESP is 0.00%.
Other players in the foreign banks industry, which look attractive at current levels, include Australia & New Zealand Banking Group Limited (ANZBY), Banco Bradesco S.A. (BBD) and Banco Macro S.A. (BMA). All these stocks carry the same Zacks Rank as ICICI Bank.
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ICICI BANK LTD (IBN): Free Stock Analysis Report
AUSTRALIA AND NEW ZE (ANZBY): Free Stock Analysis Report
BANCO BRADESCO S A (BBD): Free Stock Analysis Report
BANCO MACRO SA (BMA): Free Stock Analysis Report
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