Brokerages Nuvama and Motilal Oswal have maintained their Buy ratings on ICICI Lombard, raising target prices to Rs 2,340 and Rs 2,400, respectively. While competitive pressures impacted motor and group health growth, investment income supported profits. Both firms expect recovery in motor volumes and improved profitability metrics, including a better combined ratio and strong PAT growth over FY26–FY27.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets