Barclays Downgrades Vedanta Resources to Underweight (VED)
Vedanta Resources (LON:VED) was downgraded by investment analysts at Barclays to an “underweight” rating in a note issued to investors on Friday, StockRatingsNetwork.com reports. They currently have a GBX 750 ($12.30) target price on the stock, down from their previous target price of GBX 1,150 ($18.86). Barclays’ price objective would indicate a potential downside of 13.99% from the company’s current price.
Shares of Vedanta Resources (LON:VED) opened at 872.00 on Friday. Vedanta Resources has a 52 week low of GBX 748.00 and a 52 week high of GBX 1352.00. The stock’s 50-day moving average is GBX 867.9 and its 200-day moving average is GBX 1052.. The company’s market cap is £2.384 billion.
VED has been the subject of a number of other recent research reports. 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 1,270 ($20.83) price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Vedanta Resources from GBX 1,130 ($18.53) to GBX 1,120 ($18.37) in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Vedanta Resources from GBX 1,360 ($22.31) to GBX 1,130 ($18.53) in a research note to investors on Friday, December 13th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of GBX 1,178.39 ($19.33).
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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