250 stocks have hit 1-year price targets in a matter of weeks

The roaring rally in the stock market has helped shares reach their price targets set by analysts much before the periods set by them. Nearly 40 per cent of the 600-odd stocks tracked by analysts are currently trading above their one-year target price even after repeated increases in their target prices. Nearly 50 stocks including Bank of India, SAIL, TVS Motors, Tata Global, United Breweries, Punjab National Bank and JSW Energy among others are currently trading above 20 per cent of their target prices.

Analysts said the continued liquidity is helping share prices achieve targets way ahead of analysts' expectations. “Analysts are generally conservatives in giving target price. In a bull market driven by the excess liquidity, rational valuations technique won't work“ said Dipen Shah, an independent analyst.