Brokerages raise Asian Paints price targets after strong Q1 earnings, but retain cautious stance
Brokerages increased price targets for Asian Paints after strong June quarter earnings. Most analysts maintained their existing recommendations for the paint company. Rich valuations and rising raw material costs limit the stock's upside potential...
By ET Bureau | Updated:
Reuters
Analysts’ consensus average price target of Rs 3,023.78 on Asian Paints implies an upside of 10% over its Thursday closing price of Rs 2,746.90. The stock fell 0.44% on Thursday.
Most top brokerages raised their price targets on Asian Paints, but most retained their existing recommendations after the company’s June quarter earnings beat expectations. Rich valuations, rising raw material costs and intense competition continue to limit the stock’s upside, said analysts.
Analysts’ consensus average price target of Rs 3,023.78 on Asian Paints implies an upside of 10% over its Thursday closing price of Rs 2,746.90. The stock fell 0.44% on Thursday.
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