With Q1 Fy 2014 results slightly disappointing, most of the global brokerage firms have published their ratings on the India's Largest Aluminium Company. Some have retained their previous rating while others have reduced their price target on the stock.
Following is the list of brokerage houses and their rating and price targets for Hindalco Industries.
Macquarie is Equal-Weight on Hindalco with a 1 year price target of Rs.124
Morgan Stanley is also Equal-Weight on Hindalco with a 1 year price target of Rs.101
JP Morgan is still Over-Weight on Hindalco but has reduced it's 1 year price target to Rs.140 from earlier Rs.150
UBS continue to maintain Buy rating on the Stock with a 12 month price target of Rs.110.
Bofa-ML is Neutral on Hindalco and has reduced the price target to Rs.105 from Rs.112.
Citigroup has sell rating on the stock with a 1 year target of Rs.95
HSBC continue to be over-weight with a target of Rs.120 in next 1 year.
Deutsche Buy has a buy rating on the stock but has slightly reduced the target price to Rs. 130 from Rs.135 given earlier.
Beside all the above brokerage views, InvestorZclub continue to be extremely bullish on the stock and has a price target of Rs.150 in next 18 months.
The average of all the targets given above comes to around 116 which is also the 100 week average price at the moment. The stock could face resistance in this area but once crossed will shoot up to 150 quickly.ReplyDelete