Vedanta Resources plc (VED) Price Target Raised to GBX 500
Vedanta Resources plc (LON:VED) had its price objective upped by stock analysts at Jefferies Group from GBX 400 ($4.95) to GBX 500 ($6.19) in a report issued on Friday. The brokerage currently has an “underperform” rating on the stock. Jefferies Group’s price target would indicate a potential downside of 18.63% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Credit Suisse Group AG reiterated an “underperform” rating and set a GBX 330 ($4.08) target price on shares of Vedanta Resources plc in a research report on Monday, August 1st. Deutsche Bank AG reiterated a “buy” rating on shares of Vedanta Resources plc in a research report on Tuesday, August 9th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a GBX 400 ($4.95) target price on shares of Vedanta Resources plc in a research report on Tuesday, June 28th. Finally, Barclays PLC boosted their target price on Vedanta Resources plc from GBX 320 ($3.96) to GBX 460 ($5.69) and gave the stock an “underweight” rating in a research report on Wednesday, September 21st. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Vedanta Resources plc currently has an average rating of “Hold” and an average price target of GBX 388.50 ($4.81).
Vedanta Resources plc (LON:VED) opened at 640.00 on Friday. The company’s 50-day moving average price is GBX 549.06 and its 200-day moving average price is GBX 463.55. The stock’s market cap is GBX 1.77 billion. Vedanta Resources plc has a 12 month low of GBX 195.16 and a 12 month high of GBX 646.00.
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About Vedanta Resources plc
Vedanta Resources plc is a diversified natural resources company. The Company is engaged in exploring, extracting and processing minerals and oil and gas. The Company’s segments include Zinc-India, Zinc-International, Oil & Gas, Iron Ore, Copper-India/Australia, Copper-Zambia, Aluminum and Power. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas and commercial power and has presence across India, Zambia, South Africa, Namibia, Ireland, Australia, Liberia, United Arab Emirates and Sri Lanka.
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