Goldman Sachs downgraded ONGC, BPCL, and IOC while maintaining a buy on RIL and a neutral rating on HPCL. The risk-to-reward ratio as well as valuations are less favourable for Indian energy stocks.
ONGC downgraded to sell from a neutral; target price raised to Rs 175 from Rs 160.
BPCL downgraded to neutral from buy; target price raised to Rs 500 from Rs 435.
IOC downgraded to sell from neutral; target price raised to Rs 105 from Rs 85.
Comments
Post a Comment