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Brokerages are increasingly revising their one-year price targets for Indian stocks, even as this year’s rally has been driven by re-rating.
In the past three months, all the Sensex companies, except ITC and Yes Bank, have seen an upward revision in price targets. The broader market, too, has witnessed a similar trend, with 330 of the BSE 500 companies seeing their 12-month target price being moved upwards. The revision in targets is in anticipation of growth revival and the start of a new earnings cycle.
The benchmark indices have rallied 28 per cent this year, while the broader market has
