What’s Buzzing: CLSA, Macquarie, UBS bullish on Asian Paints; here’s why
CLSA has an outperform rating and has raised the target to Rs 3,275. Macquarie too has raised the target price to Rs 3,500 saying the performance re-emphasises the resilient nature of demand.
Brokerages are happy with the way demand has been resilient for Asian Paints but are a little perturbed by margin miss and the current valuations at which the stock is trading. The stock has gone up by 3.43 percent in the last one month and is currently trading at Rs 3,115 on the NSE.
CLSA has an outperform rating and has raised the target to Rs 3,275. Macquarie too has raised the target price to Rs 3,500 saying the performance re-emphasises the resilient nature of demand. Meanwhile, UBS has the highest target price on the stock at Rs 3,550.
However, Morgan Stanley has downgraded the stock to equal weight from overweight with target price of Rs 3,143 and expects to wait for better entry point.
For more, watch the accompanying video.
(Edited by : Dipika Ghosh)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM