JPMorgan Chase & Co. Reiterates Overweight Rating for Vedanta Resources (VED)
Vedanta Resources (LON:VED)‘s stock had its “overweight” rating restated by JPMorgan Chase & Co. in a research note issued on Friday, Analyst Ratings Network reports. They currently have a GBX 1,120 ($18.46) price target on the stock. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 21.74% from the company’s current price.
Vedanta Resources (LON:VED) traded up 2.51% during mid-day trading on Friday, hitting GBX 920.00. The stock had a trading volume of 780,527 shares. Vedanta Resources has a 1-year low of GBX 748.00 and a 1-year high of GBX 1352.00. The stock’s 50-day moving average is GBX 862.9 and its 200-day moving average is GBX 1043.. The company’s market cap is £2.515 billion.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Vedanta Resources from GBX 1,020 ($16.81) to GBX 1,070 ($17.63) in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Vedanta Resources in a research note to investors on Tuesday. They now have a GBX 1,200 ($19.78) price target on the stock. Finally, analysts at Societe Generale cut their price target on shares of Vedanta Resources from GBX 1,100 ($18.13) to GBX 955 ($15.74) in a research note to investors on Monday. They now have a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Vedanta Resources presently has a consensus rating of “Hold” and an average price target of GBX 1,141.65 ($18.81).
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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