HDFC Bank Limited (NYSE:HDB) is identified as one of the best dividend stocks to invest in. Jefferies recently initiated coverage of HDB with a Buy rating and an INR 900 price target. The bank is anticipated to experience 18% growth in AUM and 22% growth in EPS between FY25 and FY28e.

Jefferies notes that HDFC Bank Limited (NYSE:HDB) benefits from a competitive position due to its diverse portfolio, extensive reach, large client network, and efficient funding structure. The stock is currently trading at a discount compared to competitors like CIFC and BAF, despite being down 10% from its high post-IPO level.

Despite the positive outlook, Jefferies highlights potential risks for HDB, including a slowdown in growth, asset quality deterioration, and regulatory changes surrounding bank subsidiaries. The bank, founded in 1994 and headquartered in Mumbai, offers a wide range of financial services including deposits, loans, cards, insurance, investments, and digital banking.

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Read more at Yahoo Finance: Jefferies Starts HDFC Bank (HDB) with a Buy Rating