JPMorgan Chase & Co. Reiterates Overweight Rating for Vedanta Resources (VED)
Vedanta Resources (LON:VED)‘s stock had its “overweight” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, StockRatingsNetwork reports. They currently have a GBX 1,540 ($24.71) price objective on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 51.72% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Vedanta Resources in a research note to investors on Wednesday. They now have a GBX 1,350 ($21.66) price target on the stock. Separately, analysts at RBC Capital reiterated an “underperform” rating on shares of Vedanta Resources in a research note to investors on Wednesday. They now have a GBX 1,100 ($17.65) price target on the stock. Finally, analysts at Morgan Stanley downgraded shares of Vedanta Resources to an “underweight” rating in a research note to investors on Wednesday. They now have a GBX 1,140 ($18.29) price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of GBX 1,274.51 ($20.45).
Shares of Vedanta Resources (LON:VED) traded down 0.49% during mid-day trading on Thursday, hitting GBX 1014.9999. 1,291,195 shares of the company’s stock traded hands. Vedanta Resources has a 1-year low of GBX 966.00 and a 1-year high of GBX 1352.00. The stock’s 50-day moving average is GBX 1193. and its 200-day moving average is GBX 1167.. The company’s market cap is £2.775 billion.
Vedanta Resources plc is a diversified metals and mining company. Its segments include zinc, iron ore, copper, aluminium, power and oil and gas.
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