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.

$22.43 -0.58 (-2.50%)

Closing price 09/28/2026 03:58 PM Eastern

Extended Trading

$22.53 +0.09 (+0.41%)

As of 05:24 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

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 9/29/25 to 9/29/26	1 Month Ago 8/30/25 to 8/30/26	3 Months Ago 7/1/25 to 7/1/26	1 Year Ago 9/29/24 to 9/29/25
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)	0 Hold rating(s)	2 Hold rating(s)
Sell	1 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)	0 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	2.00	2.27	2.53
Consensus Rating	Hold	Hold	Moderate Buy
Predicted Upside	N/A	36.51% Upside	19.96% 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
9/25/2026	Weiss Ratings 5 of 5 stars	Downgrade	Hold (C-) ➝ Sell (D+)
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
7/17/2026	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 Tuesday at 05:12 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 Saturday, September 26, 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, with earnings per share of $0.40, which exceeded the consensus estimate of $0.38, and revenue of $9.01 billion, significantly surpassing the consensus estimate of $5 billion, indicating robust operational growth and profitability.
The stock is currently trading at $23.02, which is near its 52-week low of $21.76, potentially offering a value entry point for investors given the company's solid fundamentals and a P/E ratio of 13.54, which is relatively low compared to many banking peers.
Institutional interest in HDFC Bank Limited has been increasing, with several major firms such as Nykredit A S, Raiffeisen Bank International AG, and XY Capital Ltd significantly raising their stakes in the second quarter of 2026, suggesting confidence in the bank's long-term prospects.
The company offers a dividend yield of 1.49%, providing a steady income stream for investors, and maintains a low beta of 0.63, indicating lower volatility compared to the broader market, which can be appealing for risk-averse investors.
HDFC Bank Limited has a strong market position in India, serving a wide range of customers including individuals, small and midsize businesses, and corporations, with a diverse product portfolio that includes savings accounts, loans, credit cards, and wealth management services, ensuring stable revenue streams.

HDFC Bank
Bear Case

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

HDFC Bank Limited is facing a securities fraud class action lawsuit, with a lead plaintiff deadline of October 13, 2026, alleging violations of U.S. securities laws and deceptive practices, which could lead to significant legal costs, reputational damage, and potential financial liabilities.
The stock has experienced a significant decline from its 52-week high of $37.45 to its current price of $23.02, reflecting a substantial drop in market value and investor confidence, possibly due to the ongoing legal issues and broader market concerns.
Short interest in HDFC Bank Limited has been increasing, with 36,044,451 shares shorted as of September 15, 2026, indicating that a significant portion of investors are betting against the stock, which could put downward pressure on the price.
Several analysts have downgraded their ratings on HDFC Bank Limited, with Wall Street Zen cutting its rating from "hold" to "sell" and HSBC reducing its rating from "buy" to "hold," reflecting concerns about the company's future performance and risk profile.
The company's stock has been trading below its 50-day moving average of $23.54 and 200-day moving average of $24.99, suggesting a bearish trend and potential further downside, which could be a concern for investors looking for capital appreciation.

HDB Forecast - Frequently Asked Questions

4 Wall Street equities research 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 equities research 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 2 downgrades 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 2.00 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