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Bloomberg Quint

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Image Credit: Bloomberg Quint

Asian Paints Gets Double Rating Upgrade From Jefferies — Check Target Price

  • Asian Paints received a double rating upgrade and a target price increase from Jefferies, shifting from 'Underperform' to 'Buy'.
  • Jefferies cited a normalisation in gross margin and a more gradual pick-up in growth for Birla Opus, leading to the upgrade.
  • The target price for Asian Paints was raised to Rs 2,830, indicating a 16% return potential over the previous closing level.
  • The stock was trading 1.2% higher on the NSE, with a positive outlook based on expected improvements in demand conditions and gross margins.

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