April 9, 2013 / 4:07 AM / 4 years ago

MARKET EYE-MStanley upgrades India's ICICI Bank to 'overweight'

* Morgan Stanley upgraded ICICI Bank Ltd to
"overweight" from "equal-weight" and has raised its target price
to 1,250 from 1,235 rupees, as it expects a pickup in consumer
loan growth to drive performance.
* Morgan Stanley also cites valuations as well as ICICI's
efforts to "repair" its balance sheet and improve profitability.
* ICICI Bank shares gain 1.7 percent to 1005.60 rupees. 

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)

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