HSBC Lowers Vedanta Resources Price Target to GBX 1,040 (VED)
Research analysts at HSBC dropped their price target on shares of Vedanta Resources (LON:VED) from GBX 1,220 ($19.48) to GBX 1,040 ($16.60) in a report released on Thursday, StockRatingsNetwork reports. The firm currently has a “neutral” rating on the stock. HSBC’s price objective would indicate a potential upside of 0.68% from the company’s current price.
Vedanta Resources (LON:VED) traded down 1.24% during mid-day trading on Thursday, hitting GBX 1033.00. The stock had a trading volume of 705,073 shares. 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 £2.824 billion.
VED has been the subject of a number of other recent research reports. Analysts at AlphaValue reiterated a “reduce” rating on shares of Vedanta Resources in a research note to investors on Thursday, October 10th. They now have a GBX 1,065 ($17.00) price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Vedanta Resources in a research note to investors on Thursday, October 10th. They now have a GBX 1,540 ($24.58) price target on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Vedanta Resources in a research note to investors on Wednesday, October 9th. They now have a GBX 1,350 ($21.55) price target on the stock. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Vedanta Resources has a consensus rating of “Hold” and a consensus price target of GBX 1,257.37 ($20.07).
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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