HDFC Bank (HDB) Stock Forecast & Price Target

Q: What analysts cover HDFC Bank?

HDFC Bank has been rated by research analysts at HSBC , The Goldman Sachs Group , Weiss Ratings , and Zacks Research in the past 90 days.

$23.16 +0.51 (+2.23%)

Closing price 09/18/2026 03:59 PM Eastern

Extended Trading

$23.16 0.00 (-0.02%)

As of 09/18/2026 07:59 PM Eastern

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HDFC Bank - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Hold

Based on 4 Analyst Ratings

Sell
0

Hold
3

Buy
1

Based on 4 Wall Street analysts who have issued ratings for HDFC Bank in the last 12 months, the stock has a consensus rating of "Hold." Out of the 4 analysts, 3 have given a hold rating, and 1 has given a buy rating for HDB.

Consensus Price Target

N/A

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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HDB Analyst Ratings Over Time

Type	Current Forecast 9/19/25 to 9/19/26	1 Month Ago 8/20/25 to 8/20/26	3 Months Ago 6/21/25 to 6/21/26	1 Year Ago 9/19/24 to 9/19/25
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)	1 Buy rating(s)
Hold	3 Hold rating(s)	2 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	N/A	N/A	N/A	N/A
Forecasted Upside	N/A	N/A	N/A	N/A
Consensus Rating	Hold	Hold	Strong Sell	Hold

HDB Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

HDB Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

HDFC Bank Stock vs. The Competition

Type	HDFC Bank	Finance Companies	Broader Market
Consensus Rating Score	2.25	2.27	2.53
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	N/A	32.95% Upside	18.44% Upside
News Sentiment Rating	Neutral News See Recent HDB News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export

Date	Brokerage	Action	Rating
8/31/2026	HSBC 3 of 5 stars	Downgrade	Buy ➝ Hold
8/21/2026	The Goldman Sachs Group 3 of 5 stars	Initiated Coverage	Buy
7/20/2026	Weiss Ratings 5 of 5 stars	Upgrade	Sell (D+) ➝ Hold (C-)
7/17/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Upgrade	Strong Sell ➝ Hold
1/23/2025	Nomura Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Upgrade	Neutral ➝ Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 05:21 AM ET.

Should I Buy HDFC Bank Stock? HDB Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, September 18, 2026. Please send any questions or comments about these HDFC Bank pros and cons to contact@marketbeat.com.

HDFC Bank
Bull Case

Here are some ways that investors could benefit from investing in HDFC Bank Limited:

HDFC Bank Limited recently reported strong financial performance for the quarter ended July 18, 2026, beating analyst expectations with an earnings per share of $0.40 compared to a consensus estimate of $0.38, while also significantly exceeding revenue forecasts with $9.01 billion in revenue against an expected $5 billion, indicating robust operational growth and profitability.
The stock is currently trading at $23.17, which is near its 52-week low of $21.76, offering a potential entry point for value-oriented investors given the company's solid fundamentals and a P/E ratio of 13.63 that suggests the stock may be undervalued relative to its earnings power.
Institutional interest remains active, with new positions being established by firms such as Tidal Investments LLC, which purchased 58,100 shares valued at approximately $1.5 million in the second quarter, and XY Capital Ltd, which increased its holdings by over 300,000 shares, signaling confidence in the bank's long-term outlook.
HDFC Bank Limited offers a dividend yield of 1.50%, providing a steady income stream for investors, supported by a net margin of 15.96% and a return on equity of 11.84% in the most recent quarter, which demonstrates the company's ability to generate consistent cash flow to support shareholder returns.
The company has a low beta of 0.63, indicating that its stock price tends to be less volatile than the broader market, which can be attractive to investors seeking stability and lower risk exposure in their portfolio, especially during periods of market uncertainty.

HDFC Bank
Bear Case

Investors should be bearish about investing in HDFC Bank Limited for these reasons:

HDFC Bank Limited is facing a securities class action lawsuit pending in the U.S. District Court for the Southern District of New York, with allegations that the company misrepresented its internal controls and improperly recorded approximately $4.7 million in deposit-inducement payments as marketing expenses rather than interest-related costs, which could lead to significant litigation costs and reputational damage.
The stock has experienced a significant decline, trading well below its 52-week high of $37.45 and below both its 50-day and 200-day moving averages, indicating a weak recent trend and potential continued downward pressure on the share price as investors react to negative news and market conditions.
Several prominent financial institutions have recently downgraded their ratings on HDFC Bank Limited, including HSBC, which lowered its rating from "buy" to "hold" in August 2026, and Wall Street Zen, which cut its rating from "hold" to "sell" in July 2026, reflecting growing concerns among analysts about the company's future performance and risk profile.
Short interest in HDFC Bank Limited has been increasing, with shares shorted rising to 36.46 million as of August 31, 2026, up from 27.1 million in the previous month, suggesting that a growing number of investors are betting against the stock, which could exacerbate price declines if the trend continues.
Insider selling activity has been observed, with executives such as N Srinivasan and Ashish Parthasarthy selling shares in early 2026, which may signal a lack of confidence in the company's near-term prospects or a desire to diversify personal holdings, potentially dampening investor sentiment.

HDB Forecast - Frequently Asked Questions

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for HDFC Bank in the last year. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" HDB shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HDB, but not buy additional shares or sell existing shares.

According to analysts, HDFC Bank's stock has a predicted downside of -100.00% based on their 12-month stock forecasts.

Over the previous 90 days, HDFC Bank's stock had 2 upgrades and 1 downgrade by analysts.

HDFC Bank has been rated by research analysts at HSBC, The Goldman Sachs Group, Weiss Ratings, and Zacks Research in the past 90 days.

Analysts like HDFC Bank less than other "finance" companies. The consensus rating score for HDFC Bank is 2.25 while the average consensus rating score for "finance" companies is 2.27. Learn more on how HDB compares to other companies.

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Brokerages With HDFC Bank Recommendations

MarketBeat monitors more than a dozen sources for HDFC Bank analyst ratings, with the most recent rating issued on 8/31/2026.

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HDFC Bank (HDB) Stock Forecast & Price Target