NTPC shares bounced back strong on Friday after falling around 0.8% on Thursday.
What Happened: Global analyst firm Morgan Stanley maintained its ‘overweight’ rating on the stock with a target price of ₹198 – a 16% upside from the stock’s last closing price of ₹170.60.
The firm said that one of the catalysts for the stock was lowering competitive intensity in acquiring stressed assets. The firm also sees the monetisation of the company’s renewable energy assets in the near term as a positive.
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Domestic brokerages have also remained positive on the stock. ICICI Securities and BOB Capital Markets both have a buy rating on the stock as they see a massive double-figure upside.
ICICI Securities has a price target of ₹223 on the stock and while BOB Capital Markets has a target price of ₹210 – both seeing an over 20% upside from the stock’s last closing price.
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Price Action: NTPC shares were trading 2.02% higher at ₹174.05 in the early hours of trading on Friday.
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