NEW DELHI: SBI's March quarter results have surprised analysts on the asset quality side, with slippages similar to or better than those of large private banks. While there are some concerns over the credit growth and the impact of Covid 2.0 on SME accounts, foreign brokerages are largely positive on the stock, with targets as high as Rs 650, suggesting up to 62 per cent potential upside for the stock over Friday's close of Rs 401.10. SBI's March quarter was a big beat, CLSA said, while revising its target on the stock to Rs 650 from Rs 600 earlier. FY21 slippages at less than 1.2 per cent of the loans were the best in class and the corporate credit cycle is clearly turning with retail slippages at less than 0.5 per cent.