Notable Price Action: Is Selling ICICI Bank Ltd (ADR) Here a Winning Strategy?

Notable Price Action: Is Selling ICICI Bank Ltd (ADR) Here a Winning Strategy?

The stock of ICICI Bank Ltd (ADR) (NYSE:IBN) is a huge mover today! About 14.37M shares traded hands or 14.87% up from the average. ICICI Bank Ltd (ADR) (NYSE:IBN) has risen 27.33% since April 6, 2016 and is uptrending. It has outperformed by 25.37% the S&P500.
The move comes after 7 months negative chart setup for the $24.64B company. It was reported on Nov, 8 by Barchart.com. We have $7.55 PT which if reached, will make NYSE:IBN worth $1.97B less.

ICICI Bank Ltd (ADR) (NYSE:IBN) Ratings Coverage

Out of 5 analysts covering ICICI Bank (NYSE:IBN), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. ICICI Bank has been the topic of 9 analyst reports since August 19, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Zacks given on Thursday, September 3. The rating was upgraded by Zacks to “Sell” on Wednesday, August 19. The rating was upgraded by Goldman Sachs on Monday, September 14 to “Buy”. Goldman Sachs upgraded the stock to “Buy” rating in Monday, October 24 report. The rating was upgraded by Credit Suisse to “Outperform” on Thursday, April 21. Standpoint Research upgraded ICICI Bank Ltd (ADR) (NYSE:IBN) on Wednesday, August 26 to “Hold” rating. The stock of ICICI Bank Ltd (ADR) (NYSE:IBN) earned “Sell” rating by Zacks on Tuesday, August 25. The rating was upgraded by UBS to “Buy” on Friday, October 21. The stock of ICICI Bank Ltd (ADR) (NYSE:IBN) earned “Neutral” rating by Goldman Sachs on Tuesday, May 3.

According to Zacks Investment Research, “ICICI Bank offers a wide range of banking products and services to corporate and retail customers through a variety of delivery channels.”

More news for ICICI Bank Ltd (ADR) (NYSE:IBN) were recently published by: Quotes.Wsj.com, which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Benzinga.com‘s article titled: “Mid-Morning Market Update: Markets Open Higher; LendingClub Posts Narrower …” and published on November 07, 2016 is yet another important article.

IBN Company Profile

ICICI Bank Limited (the Bank), incorporated on January 5, 1994, is a banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury services and products.

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