Analysts have upgraded the target price for two in every three stocks so far this year even as the market remains volatile amid global trade tensions and higher fuel prices.
The benchmark Nifty 50 index, with a 1.7 percent gain so far this year, has outperformed most global peers. But that masks the decline in the broader markets: the Nifty 500 is down 4 percent, while the mid- and small-cap indices have declined nearly 15 and 22 percent, respectively.
Analysts, however, expect the Nifty 50 to rise 8.4 percent over the coming 12 months, according to Bloomberg consensus estimates. And so far in 2018, they increased price targets for 64 percent of the 428 stocks tracked by at least five analysts. The remaining 36 percent were downgraded.
Here are the biggest upgrades and downgrades in the year so far…
In June, however, the target price was lowered for about 40 percent of the counters, 33 percent were upgraded and there was no change for 27 percent. Here are the biggest upgrades and downgrades in June.