Nykaa’s share price continued its recovery on Monday morning as the stock went up over 2% to hit an intraday high of ₹147.80. After a dismal start to the year, the stock has recovered quite a bit in the past month. Nykaa’s share price has gone up close to 14% in the past month.
So with this recovery run, here’s what analysts are suggesting investors do with the new-age stock.
See Also: When Will Nykaa Share Price Go Up?
Macquarie maintained its ‘underperform’ rating on the stock with a price target of ₹115. The firm said that the company has not set medium-term growth/profitability targets. The analysts are also concerned that rising competition would result in more capital-intensive growth.
Jefferies, on the other hand, maintained its ‘buy’ rating for the stock with a price target of ₹200 – an over 38% upside from the stock’s last closing price of ₹144.35. The global analyst firm noted that the omnichannel retailer is positive about the overall industry outlook. It added the premiumisation trend in the sector is also working in Nykaa’s favour. The firm said that the company’s management also has a positive outlook on profitability.
Price Action: Nykaa’s share price was up 1.49% to trade at ₹146.50 shortly after the market opened on Monday.
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