Goldman Sachs upgrades Axis Bank, LIC Housing & M&M Fin; details here

Goldman Sachs have upgraded Axis Bank to a ‘buy’ from ‘neutral’. They have a target price of Rs 920. It believes that the current valuations are quite compelling at just a little over 1.50 times FY23 price to book and hence this upgrade on Axis Bank. Goldman Sachs have also upgraded the LIC Housing Finance to ‘neutral’ from ‘sell’ and M&M Finance to ‘neutral’ from ‘sell’.