Axis Bank Shares Surge as JPMorgan Upgrades Stock, Citing Strong Asset Quality

• Axis Bank shares opened 2% higher on Wednesday, January 28, after its December quarter results.
• JPMorgan upgraded Axis Bank to 'Overweight' and raised its price target to ₹1,525 per share, implying a 15% upside.
• The upgrade is based on improving asset quality trends and continued positive momentum in retail asset quality stabilisation.
• JPMorgan expects a stronger return on assets inflection for Axis Bank, forecasting 1.65% for FY27 and 1.70% for FY28.
• 44 out of 50 analysts have a 'Buy' rating on Axis Bank, with no 'Sell' ratings after its Q3 results.

Why It Matters: Axis Bank shares gained significantly following a JPMorgan upgrade driven by strong asset quality and growth outlook.