Jefferies downgrades ITC to Hold from Buy; cuts target price to Rs 430
Fri, Feb 9, 2024 1:06 PM

Jefferies downgrades ITC to Hold from Buy; cuts target price to Rs 430

A Flip by Shubhangi Gupta
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Jefferies has downgraded its rating for Tata Consumer Products to "Hold" from "Buy" after BAT announced its plans to reduce its stake in the company. The target price has also been lowered, citing potential uncertainties in tobacco taxation and projected soft volume growth. However, the brokerage house expects moderate earnings growth and predicts significant margin and FMCG revenue increases.

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