Goldman Sachs upgraded JSW Steel to 'buy' from 'neutral' as the recent price correction in the stock has improved its risk-reward ratio. The investment bank kept the price target unchanged at 1,343 rupees.
The stock has corrected 20 percent since November, Goldman Sachs said the stock is trading at a discount to its peers on both earnings and book-based multiples. The company will be in the best position to capitalize on a recovery in steel pricing, the investment bank added.
CMP of JSW Steel as on 17th May was 920. The target price set by the investment bank suggest a return of around 46% from the current levels.
Subscribe to:
Post Comments (Atom)
15 Stock Investment Tips from Rakesh Jhunjhunwala
1. Always go against tide. Buy when others are selling and sell when others are buying. 2. If you believe in the growth prospects o...
-
In USA over 80% while in India over 50% of trades are executed by trading algorithms. Beating trading algorithms, also known as algos, can b...
-
One of best book for beginners, William O'Neil has combined both Technical & Fundamental Analysis in this best selling book whic...
No comments:
Post a Comment