New Delhi: The stock of Reliance Industries is in the news as three major brokerage firms are being bullish on its stock. JP Morgan has shown confidence in its stock and has given it an “overweight” rating. Secondly, Bernstein has given an “Outperform” rating, while Jefferies has given a “Buy” rating. Each of the brokerages is poised for the steady growth of Reliance Industries. They expect Reliance’s stock to go up on the backing of booming retail and telecom businesses. Double-digit growth is expected for Reliance Industries in the upcoming 12 months.
Reliance Industries target price | JP Morgan
According to JP Morgan, retail and telecom are the big drivers for Reliance Industries’ growth. A target price is set at Rs 1568 for it as compared to Rs 1530 it had set earlier. The change in the target price is attributed to the next two years of growth prospects of Reliance Industries. Brokerage said in its statement that “the next two years should be better than the last two.” The current target price is 9 percent higher than the current stock price. The brokerage firm believes that the pressure on profit margins due to weaker commodity prices was a thing of the past. The firm states that retail and telecom are the drivers of future growth. “Favorable for retail and telecom, and this should drive near-term earnings,” the company said in a statement.
Reliance Retail and Telecom account for 54 percent of the total revenue of the company. As per the company statement, “These will account for almost all of the net EBITDA growth over the next three years.”
Reliance Industries target price | Bernstein
It has given an outperform rating with a target of Rs 1640 price per share. The target price is 13 percent higher than the current stock price. The brokerage said the company’s new ventures in the new energy segment are expected to support the surge in the share price. The constant flat Debt is playing its part too on the back of stronger support. The company’s capital expenditures are the other key factors for the higher growth prospects.
Reliance Industries target price | Jefferies
Jefferies has given a rating of “buy” with a target price of Rs 1650 per share. The target price is 14 percent higher from current levels. The brokerage firm is banking on the growth prospects in the retail segment. A new telecom tariff outlook for Jio further adds momentum to the positive growth outlook. They are of the opinion that “sustainable competitive advantage of scale economics, cost leadership, and financial strength would keep the company going forward” and expect that the new energy segment, Jio tariffs outlook, and e-commerce in Reliance retail would boost the share price to the targeted levels.
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JP Morgan sets a target price of Rs 1568, citing strong retail and telecom sectors. Bernstein’s outperform rating features a Rs 1640 target price, highlighting new energy ventures. Jefferies recommends a “buy” with a Rs 1650 target, emphasizing retail growth and Jio’s tariff outlook. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
