Trading Report: The Vedanta Resources plc (VED) Price Target Raised to GBX 500

The Vedanta Resources plc (VED) Price Target Raised to GBX 500

Vedanta Resources plc (LON:VED) had its price target boosted by Jefferies Group from GBX 400 ($4.95) to GBX 500 ($6.19) in a report issued on Friday. The firm presently has an “underperform” rating on the stock. Jefferies Group’s price target would indicate a potential downside of 18.63% from the stock’s current price.

VED has been the topic of several other research reports. Barclays PLC increased their price objective on Vedanta Resources plc from GBX 320 ($3.96) to GBX 460 ($5.69) and gave the stock an “underweight” rating in a research report on Wednesday, September 21st. Deutsche Bank AG reiterated a “buy” rating and set a GBX 670 ($8.29) price objective on shares of Vedanta Resources plc in a research report on Tuesday. Credit Suisse Group AG reiterated an “underperform” rating and set a GBX 330 ($4.08) price objective on shares of Vedanta Resources plc in a research report on Monday, August 1st. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a GBX 425 ($5.26) price objective on shares of Vedanta Resources plc in a research report on Tuesday, July 12th. Finally, Canaccord Genuity reiterated a “hold” rating and set a GBX 400 ($4.95) price objective on shares of Vedanta Resources plc in a research report on Monday, August 1st. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of GBX 388.50 ($4.81).

Shares of Vedanta Resources plc (LON:VED) opened at 641.00 on Friday. The firm’s 50-day moving average price is GBX 549.06 and its 200 day moving average price is GBX 463.55. Vedanta Resources plc has a one year low of GBX 195.16 and a one year high of GBX 641.59. The company’s market capitalization is GBX 1.77 billion.

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