NEW YORK (TheStreet) -- ICICI Bank (IBN)  shares are slipping 3.87% to $6.45 on Tuesday after Goldman Sachs lowered its rating this morning saying the stock is now fairly valued. 

The firm downgraded the India-based banking and financial services provider to "neutral" from"buy" with a price target of 258 Indian rupees or $3.877. 

For the third time since becoming a bank, the company has entered another restructuring phase, and it appears that returns and growth will likely suffer, analysts added.

However, one key risk is a significantly better macro environment, according to the firm's note.