HDFC Bank Share Price Target 2026: Brokerage firm Jefferies has recommended Buy rating on HDFC Bank shares after the recent correction. Jefferies said that the valuation of HDFC Bank has become attractive after the sharp fall in its share price after the resignation of part-time Chairman Atanu Chakraborty.

As per Jefferies, HDFC Bank shares have declined 24 per cent in 2026 so far (YTD), underperforming peers significantly.

HDFC Bank shares have fallen due to concerns around the exit of Chairman and impact of West Asia conflict.

HDFC Bank Share Price Target 

Jefferies has set a target price of Rs 1,240 on HDFC Bank shares. HDFC Bank share price target by Jefferies implies an upside of Rs 482 or 64 per cent from CMP of Rs 757.95 (share price as on March 27, 2026).

HDFC Bank Share Price Target: Valuations Attractive

Now, valuations at 1.6x FY27E adjusted P/B, 13x PE are at a discount to ICICI Bank and a low premium to peers.

"Valuations are attractive given stronger asset quality, healthy growth & ROE. Sensitivity to higher credit cost & lower topline is manageable," Jefferies said.

Clarity on board issues and rollover of CEO- term/ Chairman appointment can aid rerating, Jefferies said, adding that HDFC Bank is among "our sector top-picks".

HDFC Bank Share Price Target: 

HDFC Bank Dividend 2026 Announcement

Meanwhile, HDFC Bank could soon announce an interim dividend for its shareholders. In an exchange filing, HDFC Bank said that a board meeting is scheduled to take place on April 18 to approve the financial results and also recommend a dividend.

"Recommendation of dividend, if any, for the financial year 2025-26, including fixation of record date for the same," HDFC Bank said in a filing.

HDFC Bank is the country's largest private sector lender and second largest in terms of branches after the State Bank of India (SBI).