Notwithstanding the soaring benchmark indices, analysts are slashing target prices for stocks. In the past six months, price targets for Nifty 50 components have been slashed by 6.5 per cent on average, the second-highest in Asia after Japan. The behaviour of analysts, this time around, contradicts their historical stance wherein they would raise stock target prices during market rallies.
Out of the 50 companies in the Nifty 50 index, 34 have seen a reduction in target prices in the pas ..
Automobiles, metals and oil marketing companies reported target price cuts of 15-40 per cent. Tata MotorsNSE -0.97 %, Indiabulls Housing, Vedanta, Yes Bank and Maruti Suzuki recorded biggest cuts in that order.
Based on the current target prices, companies such as Hindalco, ONGC, M&M, Coal IndiaNSE -0.09 % and Tata Motors offer the highest upside in the range of 19-28 per cent from their respective current market prices.
Out of the 50 companies in the Nifty 50 index, 34 have seen a reduction in target prices in the pas ..
Automobiles, metals and oil marketing companies reported target price cuts of 15-40 per cent. Tata MotorsNSE -0.97 %, Indiabulls Housing, Vedanta, Yes Bank and Maruti Suzuki recorded biggest cuts in that order.
Based on the current target prices, companies such as Hindalco, ONGC, M&M, Coal IndiaNSE -0.09 % and Tata Motors offer the highest upside in the range of 19-28 per cent from their respective current market prices.
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