Citi cuts price target for Adani Power to Rs34/share from Rs40/share
Nishant Vasudevan 3 Aug 2012, 21:45
Nishant Vasudevan 3 Aug 2012, 21:45
Citi cut its price target for Adani Power's stock to Rs34 apiece from Rs40, while maintaining its sell rating to factor in a decrease in earnings estimates.
It is showing strength and the screen is showing the era of under performance is over. Going forward, probably Reliance will outperform the market.
On operating front, I do not see any company should be incurring any loss in future and there will be times when you will see the fortunes of these companies will turnaround.
For the time being, I will stay put on investing into this company because alternatively I get many other deep discounts stocks available into the market place.
Given the kind of valuation at which these companies are quoting currently, I am not finding very high comfort level at this point of time.
One will have to buy it with a relatively 12 to 15 months horizon, if not more into this particular stock to get the advantage.
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