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 , and Weiss Ratings in the past 90 days.

$26.02 +0.32 (+1.23%)

As of 11:10 AM Eastern

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

Consensus Rating

Hold

Based on 4 Analyst Ratings

Sell
1

Hold
2

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, 1 has given a sell rating, 2 have given a hold rating, and 1 has given a buy rating for HDB.

Consensus Price Target

$26.10
0.29% Upside

According to the 4 analysts' twelve-month price targets for HDFC Bank, the average price target is $26.10. The highest price target for HDB is $26.10, while the lowest price target for HDB is $26.10. The average price target represents a forecasted upside of 0.29% from the current price of $26.03.

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 11/13/25 to 11/13/26	1 Month Ago 10/14/25 to 10/14/26	3 Months Ago 8/15/25 to 8/15/26	1 Year Ago 11/13/24 to 11/13/25
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)	1 Buy rating(s)	0 Buy rating(s)	1 Buy rating(s)
Hold	2 Hold rating(s)	2 Hold rating(s)	2 Hold rating(s)	2 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$26.10	$26.10	N/A	N/A
Forecasted Upside	0.29% Upside	15.34% Upside	N/A	N/A
Consensus Rating	Hold	Hold	Hold	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	2.00	2.27	2.52
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	1.38% Upside	33.36% Upside	13.84% Upside
News Sentiment Rating	Positive News See Recent HDB News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

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Rating

Upside/Downside

Action

Report Date

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Date	Brokerage	Action	Rating	Price Target	Report Date Upside/Downside
9/25/2026	Weiss Ratings 2 of 5 stars	Downgrade	Hold (C-) ➝ Sell (D+)
8/31/2026	HSBC 2 of 5 stars	Downgrade	Buy ➝ Hold	$30.80 ➝ $26.10	+13.13%
8/21/2026	The Goldman Sachs Group 3 of 5 stars	Initiated Coverage	Buy
7/17/2026	Zacks Research Subscribe to MarketBeat All Access to unlock brokerage rankings	Upgrade	Strong Sell ➝ Hold
1/23/2025	Nomura Subscribe to MarketBeat All Access to unlock brokerage rankings	Upgrade	Neutral ➝ Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 11:10 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 Thursday, November 12, 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 October 17, 2026, beating analyst expectations with an earnings per share of $0.42 compared to a consensus estimate of $0.40, while also significantly exceeding revenue forecasts with $8.20 billion in revenue against an estimated $4.95 billion, indicating robust operational growth and profitability.
The stock is currently trading at $25.75, which is below the average analyst price target of $26.10, suggesting potential for upside as the consensus rating remains a Hold with one Buy rating, and the company has a low beta of 0.64, implying lower volatility compared to the broader market.
Institutional investors have shown renewed interest in the stock, with several major funds increasing their positions in the third quarter of 2026, including TT International Asset Management LTD which acquired a new position of 3,805,941 shares and Pzena Investment Management LLC which increased its holdings by 8.7%, signaling confidence in the bank's future prospects.
HDFC Bank Limited offers a dividend yield of 1.32%, providing a steady income stream for investors, and the company has a solid valuation with a P/E ratio of 14.71, which is reasonable for a diversified bank with a market capitalization of $132.1 billion.
The company has received regulatory approval for the re-appointment of its Executive Director by the Reserve Bank of India, and shareholders have backed the CEO term, ensuring leadership stability and continuity in strategic execution, which is crucial for long-term growth.

HDFC Bank
Bear Case

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

The stock has experienced a significant decline from its 52-week high of $37.35 to its current price of $25.75, reflecting a downward trend and potential concerns about the company's performance or market conditions, with the stock hitting a 52-week low of $21.36 recently.
Short interest in HDFC Bank Limited has been increasing, with shares shorted rising to 40,289,268 as of October 30, 2026, up from 38,695,622 in the previous month, indicating that a growing number of investors are betting against the stock, which could pressure the price further.
Some institutional investors have reduced their holdings in the third quarter of 2026, such as M&G PLC which sold 280,737 shares and Sumitomo Mitsui Trust Group Inc. which sold 249,173 shares, suggesting that some large players are taking profits or exiting the position.
The company has a relatively low dividend yield of 1.32%, which may not be attractive to income-focused investors, and the P/E ratio of 14.71, while reasonable, may not offer significant value compared to other banking stocks with higher growth potential.
HDFC Bank Limited operates in a highly competitive banking sector in India, facing pressure from other major banks and fintech companies, which could erode its market share and profitability, especially as the company expands into new areas like digital banking and wealth management.

HDB Forecast - Frequently Asked Questions

According to the research reports of 4 Wall Street equities research analysts, the average twelve-month stock price forecast for HDFC Bank is $26.10, with a high forecast of $26.10 and a low forecast of $26.10.

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for HDFC Bank in the last twelve months. There is currently 1 sell rating, 2 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 upside of 0.29% based on their 12-month stock forecasts.

Over the previous 90 days, HDFC Bank's stock had 2 downgrades by analysts.

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

Analysts like HDFC Bank less than other "finance" companies. The consensus rating score for HDFC Bank is 2.00 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 9/25/2026.

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HDFC Bank (HDB) Stock Forecast & Price Target