Hindalco Q3 Result Review: Citi Issues Downgrade; Jefferies Raises Novelis Concerns — Check Target Price
Hindalco Industries, a major player in the aluminium and copper sector, recently reported its earnings for the December quarter, prompting mixed reactions from analysts. HSBC has reaffirmed its 'buy' rating on the stock but has revised its target price downward, reflecting cautious optimism amid market conditions. Conversely, Citi has downgraded Hindalco from 'buy' to 'neutral', citing concerns over the company's performance and market positioning. Additionally, Jefferies has raised alarms about Hindalco's subsidiary, Novelis, particularly regarding its operational outlook and market dynamics in North America. This shift in analyst sentiment highlights the challenges facing Hindalco as it navigates a volatile market landscape, characterized by fluctuating commodity prices and evolving demand patterns. Investors will be keen to monitor further developments and reassess their positions based on these insights.
Originally reported by NDTV Profit. Read original article
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