Vedanta Snaps Six-Day Decline After BofAML Sees 32% Upside -Shares of the Anil Agarwal-led company snapped six-day losing streak after Bank of America Merrill Lynch (BofAML) initiated coverage with a ‘Buy’ rating.
Shares of Vedanta is expected to reach Rs 380 in the next 12 months, according to BofAML. The price target implies a potential upside of 32 percent from the last regular trade.
The stock is 27 percent below the Bloomberg consensus one-year price target. It has declined 5.9 percent so far this year, compared to the gain of 27 percent in the last 12 months.
