Select mid-cap and small-cap stocks get a price upgrade

Mumbai: Amid the decline in the stock market in January so far, analysts in this period have raised their price targets on nearly 182 of the 580 stocks they track. Many of the stocks, especially mid- and small-caps, have seen a surge in their price targets after the December quarter results.

Sharda Cropchem, Greenpanel Industries, JK Tyre & Industries, BSE, Vardhman Textiles, Triveni Engineering, Shoppers Stop, TTK Prestige, Mindtree, and Infosys are among the stocks that have seen their consensus price targets go up by 10% to 33% since January 1, according to Bloomberg consensus estimates.

Price targets of several stocks had seen downgrades after the September quarter results.
With the valuations of some of these companies getting cheaper after the recent correction and they posting better-than-expected December quarter numbers, analysts are now increasing price targets.
For instance, analysts have raised their price target on Sharda Cropchem by 34% since January 1 to ₹606 against the current price of ₹578. Similarly, Greenpanel saw a 28% increase in target price since January 1 after the company's December quarter earnings and margin growth were above analysts' expectations.

The Nifty50 index has corrected 6.5% in the past seven out of the eight trading sessions, while Nifty Midcap 100 and Nifty Smallcap 100 have declined 6.37% and 6.84%, respectively.