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Why ITC Isn’t Returning Analysts’ Love
ITC is languishing with the worst-performing FMCG stocks on Nifty, trading about 1 percent higher while Nifty 50 is up 6 percent.
07 Oct 2019, 09:10 AM IST
Analysts have been smitten by ITC Ltd. for long, but this year that love has gone unrequited.Among consumer goods peers covered by at least 10 analysts, the cigarettes-to-hotels company is the most-preferred stock. According to Bloomberg data, 32 of the 37 brokerages tracking ITC recommend ‘Buy’. It’s trading at its cheapest valuation in nine years. And the average of 12-month target price estimates indicate a 25 percent upside—the b...
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