Canara Bank, a major public sector bank in India, has projected share price targets ranging from ₹104 to ₹632.90 for the years 2024 to 2030. Currently trading at ₹105.54, the bank has shown a robust 6% growth in net interest income (NII) for Q1 2024 compared to the previous year and a significant 16% decrease in provisions. Analysts remain optimistic about Canara Bank, with forecasted targets for 2024 between ₹104 and ₹375.08.
Canara Bank Share Price Target 2024 Analysis
Current Overview
- Current Share Price: ₹105.54
- Target Range: ₹104 to ₹375.08
- Key Growth Indicators: The bank’s fundamentals, including a 6% rise in NII and a 16% decrease in provisions, indicate a promising outlook.
Analysts’ Ratings
Analysts are bullish about the Canara Bank share price target for 2024. With solid performance metrics, investors can expect potential gains as the bank continues to strengthen its financial health.
Canara Bank Share Price Target 2025
Future Projections
- Projected Targets: ₹114 to ₹121
- Factors Driving Growth: Ongoing improvements in operational efficiency and a strong focus on retail and wholesale banking operations contribute to the anticipated Canara Bank share price target for 2025.
Investment Insights
Investors eyeing the Canara Bank share price target for 2025 can look forward to a stable investment, backed by the bank’s growing fundamentals.
Canara Bank Share Price Target 2030
Long-Term Outlook
- Expected Targets: ₹387, ₹407, ₹428, ₹473, ₹509, ₹545, ₹574, ₹624, and ₹632.90
- Market Sentiment: Analysts from Motilal Oswal, JM Financial, and Kotak Institutional Equities maintain ‘Buy’ ratings, reinforcing confidence in the long-term potential of the Canara Bank share.
Key Factors
The Canara Bank share price target for 2030 reflects strong fundamentals and growth prospects, making it an attractive option for long-term investors.
Canara Bank Share Price Target 2040
Future Aspirations
While specific targets for 2040 are not available, the consistent growth and strong performance metrics suggest a positive trajectory for the Canara Bank share price target 2040. Investors can expect ongoing upward movement based on current trends.
Canara Bank’s Market Position and Operations
- Market Capitalization: ₹1,12,930 crores
- P/E Ratio: 7.41
- Book Value: ₹86
- Branch Distribution: Approximately 45% of Canara Bank’s branches are in southern India, with a significant focus on rural areas.
Why Invest in Canara Bank?
- Solid Financial Health: The bank’s reported increase in net interest income and reduced provisions signal stability.
- Diverse Banking Operations: Canara Bank operates across various sectors, including Treasury, Retail, and Wholesale Banking, minimizing risks.
- Positive Analyst Ratings: The consistent ‘Buy’ ratings suggest confidence in the bank’s growth trajectory.
Summary of Canara Bank Share Price Targets
| Year | Share Price Target Range |
|---|---|
| 2024 | ₹104 – ₹375.08 |
| 2025 | ₹114 – ₹121 |
| 2030 | ₹387, ₹407, ₹428, ₹473, ₹509, ₹545, ₹574, ₹624, ₹632.90 |
Conclusion
In conclusion, the Canara Bank share price targets from 2024 to 2030 reflect a positive outlook backed by solid fundamentals and optimistic market sentiment. If you’re interested in analyzing such opportunities or want to learn more about financial markets, feel free to reach out to us or visit our website GRM IIT.
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