The research house has cut target price to Rs 410 from Rs 420 with a potential upside of 9 percent.
Shares Marico fell 2.5 percent intraday Tuesday as foreign research house BoFAML has downgraded the stock to neutral from buy.
The research house has cut target price to Rs 410 from Rs 420 with a potential upside of 9 percent.
According to BoFAML, Kerala floods to hinder ongoing softening of copra prices, while expecting a potential 10-15 percent increase in bulk copra prices near term.
Margin revival could be delayed but medium-term growth levers intact, it added.
CLSA has maintained buy call with a target of Rs 435 with a potential upside of 15 percent.
Copra price correction to help margins by Q4. Company is taking efforts to improve copra crop in the long term, said CLSA.
At 15:08 hrs Marico was quoting at Rs 371.50, down Rs 5.55, or 1.47 percent.
Posted by Rakesh Patil