ICICI Bank Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

Investors weighing an ICICI Bank target price for 2027 should start with where the stock sits today. At Rs 1,355.00 on 9 October 2026, it is 8.4% below its 52-week high of Rs 1,480.00 and 14.1% above its 52-week low of Rs 1,187.60. That range spans 25% from low to high, so the entry point matters as much as the ICICI Bank price forecast itself.

This article builds the ICICI Bank share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 1,488 base case and the Rs 1,804 bull case were reached, along with a downside risk level of Rs 1,084.

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ICICI Bank Stock Analysis: Company Overview and Key Stats

ICICI Bank (NSE: ICICIBANK) has a market capitalisation of Rs 9,72,030 crore. In FY26 it reported revenue of Rs 3,12,118 crore and net profit of Rs 57,673 crore. The table collects the figures the ICICI Bank share price target is built on.

Metric	Value
Company	ICICI Bank
NSE Ticker	ICICIBANK
CMP (9 October 2026)	Rs 1,355.00
52-Week High	Rs 1,480.00
52-Week Low	Rs 1,187.60
Market Cap	Rs 9,72,030 crore
PE Ratio (TTM)	16.27
Industry PE	12.00
Price to Book	2.60
Return on Equity	15.00%
EPS (TTM)	Rs 83.24
Dividend Yield	0.88%
12-Month Base Target	Rs 1,488
Bull Case	Rs 1,804
Downside Risk Level (not a target)	Rs 1,084

Why Is ICICI Bank Share Price Target Set at Rs 1,488 for 2027?

The base-case ICICI Bank stock target of Rs 1,488 applies a PE multiple of 16.27 to a forward EPS estimate of Rs 91.44. That EPS assumes 9.9% yearly growth, the pace from FY24 to FY26, and puts the target 9.8% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the ICICI Bank Target Price: Five Years of Results

ICICI Bank grew revenue from Rs 1,57,536 crore in FY22 to Rs 3,12,118 crore in FY26, a compound annual growth rate of 18.6%. Net profit grew faster, from Rs 25,784 crore to Rs 57,673 crore (22.3% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	1,57,536.32	25,783.83	35.44	5.00
FY23	1,86,178.80	34,463.03	47.84	8.00
FY24	2,36,037.73	45,006.74	61.96	10.00
FY25	2,94,586.93	54,418.71	71.14	11.00
FY26	3,12,118.36	57,673.39	74.77	12.00

FY26 revenue growth was 6.0%, slower than the four-year average of 18.6%, and net profit moved up 6.0%. EPS rose from Rs 61.96 in FY24 to Rs 74.77 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

ICICI Bank converted 18.5% of FY26 revenue into net profit, against 18.5% in FY25, within a five-year range of 16.4% to 19.1%.

In the June 2026 quarter, revenue was Rs 79,689 crore, up 6.9% from the same quarter a year earlier, while net profit of Rs 16,210 crore was up 12.6%. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

As a lender, ICICI Bank funds its book mainly through deposits and borrowings, so debt to equity is not a meaningful gauge for it. Book value stands at Rs 520.79 per share and the price to book ratio is 2.60, and shareholders' equity grew from Rs 1,88,033 crore in FY22 to Rs 3,79,571 crore in FY26.

Valuation Check for the ICICI Bank Stock Target: PE, Price to Book and ROE

At a PE of 16.27 against an industry PE of 12.00, ICICI Bank trades at a premium to its industry. Price to book is 2.60 on a book value of Rs 520.79 per share, and return on equity is 15.00%. A PE of 16.27 equals an earnings yield of 6.1%, and the FY26 dividend of Rs 12.00 per share gives a yield of 0.88%.

Shareholding Pattern and Institutional Holding

The latest filing shows no promoter holding in ICICI Bank, so ownership rests with institutions and public shareholders. Foreign institutional investors (FII) held 49.82% and domestic institutions (DII) held 42.31%, which puts total institutional holding at 92.13%. FII holding rose from 46.76% in June 2025 to 49.82% in June 2026. Public shareholders own the remaining 7.87%. A meaningful institutional holding adds a layer of research coverage and trading depth.

ICICI Bank Share Price Targets for the Short Term and 12 Months

Short Term ICICI Bank Stock Target Levels: Technical Setup

At Rs 1,355.00 on 9 October 2026, ICICI Bank trades below its 50-day simple moving average of Rs 1,392.40 and below its 200-day exponential moving average of Rs 1,363.92. The 14-day RSI reads 55.0, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 1,363.92 (200-day exponential moving average) and the nearest support is Rs 1,187.60 (52-week low). A sustained move above Rs 1,363.92 would improve the short-term setup, while a close below Rs 1,187.60 would shift attention to the next support.

12 Month ICICI Bank Target Price for 2027

The 12-month target for ICICI Bank is Rs 1,488: forward EPS of Rs 91.44 at a PE of 16.27. That is 9.8% above Rs 1,355.00. It would also push the stock above its 52-week high of Rs 1,480.00.

How EPS Growth and PE Multiple Change the ICICI Bank Target Price

EPS Growth	PE 13.02	PE 16.27	PE 18.71
0.0% (EPS Rs 83.24)	Rs 1,084	Rs 1,354	Rs 1,557
9.9% (EPS Rs 91.44)	Rs 1,191	Rs 1,488	Rs 1,711
15.9% (EPS Rs 96.44)	Rs 1,256	Rs 1,569	Rs 1,804

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the ICICI Bank price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for ICICI Bank Stock Target in 2027

Bull Case Rs 1,804

The bull case ICICI Bank price target needs EPS growth of 15.9%, which lifts forward EPS to Rs 96.44, and a PE multiple that rises 15% to 18.71. That gives Rs 1,804, 33.1% above the current price and above the 52-week high of Rs 1,480.00, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 1,084

The downside risk level is not a target. It assumes EPS stays flat at Rs 83.24 and the PE falls 20% to 13.02. That gives Rs 1,084, 20.0% below the current price and below the 52-week low of Rs 1,187.60.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	15.9%	18.71	Rs 1,804	+33.1%
Base Case	9.9%	16.27	Rs 1,488	+9.8%
Downside Risk	0.0%	13.02	Rs 1,084	-20.0%

Key Risks to the ICICI Bank Target Price for 2027

Growth Slowdown Risk for the ICICI Bank Price Target

Revenue in the June 2026 quarter was up 6.9% year on year, and FY26 revenue growth was 6.0%. If growth slows from here, the EPS estimate behind the ICICI Bank stock target will need revising.

Liquidity and Size Risk

ICICI Bank has a market capitalisation of Rs 9,72,030 crore. Institutional holding is 92.13%, and the latest filing shows no promoter holding. A company of this size trades with deep liquidity, so entry and exit are rarely a problem, and the larger risk is paying too much for slow earnings growth.

Valuation and Margin Risk

Net margin was 18.5% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 16.27 versus an industry PE of 12.00, a de-rating toward the downside-risk PE of 13.02 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 8.4% below its 52-week high, with an RSI of 55.0 and a MACD reading above its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in ICICI Bank

Start with the live price and volume. Any ICICI Bank share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 1,355.00 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check ICICI Bank's PE, ROE, debt and shareholding in one place.

Check ICICI Bank fundamentals on the Univest Screener

Then compare the three ICICI Bank target price scenarios with your own view. If you expect EPS growth below 9.9%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track ICICI Bank live price and get daily stock recommendations.

Conclusion

The ICICI Bank share price target for 2027 is Rs 1,488 in the base case, with Rs 1,804 as the bull case. The support for that view is arithmetic you can check: EPS grew 9.9% a year over FY24 to FY26, and the stock trades at a PE of 16.27. The risks are equally concrete, including a stock that sits 8.4% below its 52-week high and a downside scenario that cuts the price 20% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on ICICI Bank Share Price Target 2027

What is the ICICI Bank share price target for 2027?

Ans. The base-case ICICI Bank share price target for 2027 is Rs 1,488, with Rs 1,804 as the bull case. The downside risk level, which is not a target, is Rs 1,084. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the ICICI Bank share price today?

Ans. As of 9 October 2026, 3:29 PM IST, ICICI Bank trades at Rs 1,355.00, up 0.44% on the day. The 52-week range is Rs 1,187.60 to Rs 1,480.00.

Is ICICI Bank a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 9.9% a year over FY24 to FY26, but the stock is 8.4% below its 52-week high. Whether ICICI Bank fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for ICICI Bank shares?

Ans. The bull case target is Rs 1,804, which assumes 15.9% EPS growth and a PE of 18.71. The downside risk level is Rs 1,084, which assumes flat EPS and a PE of 13.02. It marks a risk, not a target.

What are the main risks to the ICICI Bank price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 9,72,030 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of ICICI Bank and how does it compare with the industry?

Ans. The PE ratio of ICICI Bank is 16.27 against an industry PE of 12.00. Price to book is 2.60 and return on equity is 15.00%. The base case in the ICICI Bank price target holds this PE constant.

Who owns ICICI Bank, and what is the promoter holding?

Ans. The latest filing shows no promoter holding in ICICI Bank. FII held 49.82%, DII held 42.31% and the public held 7.87%.

What were ICICI Bank's latest quarterly results?

Ans. In the June 2026 quarter, ICICI Bank reported revenue of Rs 79,689 crore (up 6.9% year on year) and net profit of Rs 16,210 crore (up 12.6%).