Barclays PLC Reiterates Underweight Rating for Vedanta Resources plc (VED)
Vedanta Resources plc (LON:VED)‘s stock had its “underweight” rating reiterated by stock analysts at Barclays PLC in a research note issued on Friday. They currently have a GBX 600 ($7.83) price objective on the stock. Barclays PLC’s price objective points to a potential downside of 20.69% from the company’s previous close.
A number of other research firms have also recently weighed in on VED. Credit Suisse Group raised Vedanta Resources plc to a “neutral” rating and raised their price target for the company from GBX 750 ($9.79) to GBX 800 ($10.45) in a report on Thursday, March 30th. Deutsche Bank AG lifted their target price on Vedanta Resources plc from GBX 1,030 ($13.45) to GBX 1,090 ($14.23) and gave the company a “hold” rating in a research note on Friday, March 17th. Jefferies Group LLC reissued a “hold” rating and issued a GBX 850 ($11.10) target price on shares of Vedanta Resources plc in a research note on Monday, May 15th. Goldman Sachs Group, Inc. (The) lowered their target price on Vedanta Resources plc from GBX 950 ($12.41) to GBX 925 ($12.08) and set a “buy” rating for the company in a research note on Wednesday, July 5th. Finally, J P Morgan Chase & Co lowered their target price on Vedanta Resources plc from GBX 850 ($11.10) to GBX 700 ($9.14) and set a “neutral” rating for the company in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of GBX 751.67 ($9.82).
Shares of Vedanta Resources plc (LON:VED) opened at 756.50 on Friday. Vedanta Resources plc has a one year low of GBX 476.30 and a one year high of GBX 1,112.50. The stock has a 50 day moving average price of GBX 615.82 and a 200 day moving average price of GBX 815.52. The firm’s market cap is GBX 2.10 billion.
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Vedanta Resources plc Company Profile
Vedanta Resources plc is a natural resources company, which is engaged in exploring, extracting and processing minerals, and oil and gas. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas, and commercial power. Its operations are located in India, Zambia, Namibia, South Africa, Liberia, Ireland, Australia and the United Arab Emirates.
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