Reduce IDFC First Bank, target price Rs 59: Centrum Broking Jobbery Stock Market update

Centrum Broking maintains a Reduce call on IDFC First Bank, revising the target price to Rs 59 due to higher operating expenses and elevated credit costs. The bank’s Q4FY25 PAT fell short of expectations, leading to a lower-than-anticipated RoE. Achieving the RoE target above the cost of equity is now expected beyond FY27, prompting a cautious outlook.