<ul><li>JPMorgan has maintained its 'overweight' rating on ITC Ltd. while cutting its target price to Rs 475 from Rs 505.</li><li>Lower earnings forecasts and margin headwinds are cited as the reasons for the target price cut.</li><li>FMCG revenue growth in ITC slowed to 5% year-on-year in nine months of the financial year 2025.</li><li>ITC's agri business performed well, with revenue up 27% year-on-year and EBIT up 16% year-on-year, supported by value-added products.</li></ul>

ITC Target Price Cut By JPMorgan Amid Margin Headwinds

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