Blue chips see cuts in target prices; half of Nifty sees cuts of over 15%

According to data from Bloomberg, banks have seen among the sharpest cuts in target prices -- between 16 and 60 per cent.

Blue-chip stocks have seen sharp cuts in their target prices, with half the Nifty universe seeing a cut of over 15 per cent in targets. Overall, the index constituents have seen a 2-60 per cent reduction in analysts’ consensus targets, with broking houses factoring in the risks to earnings amid the coronavirus-induced lockdown.

According to the data from Bloomberg, banks have seen among the sharpest cuts in target prices — between 16 and 60 per cent. Among the stocks, IndusInd Bank has seen target price revised from Rs 1,624 in the beginning of the year, to Rs 624, reflecting a 61