Brokerages raise Asian Paints price targets after strong Q1 earnings, but retain cautious stance

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Most top brokerages raised their price targets on Asian Paints, but most retained their existing recommendations after the company’s June quarter earnings beat expectations. Rich valuations, rising raw material costs and intense competition continue to limit the stock’s upside, said analysts.

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Analysts’ consensus average price target of Rs 3,023.78 on Asian Paints implies an upside of 10% over its Thursday closing price of Rs 2,746.90. The stock fell 0.44% on Thursday.

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https://economictimes.indiatimes.com/markets/stocks/news/brokerages-raise-asian-paints-price-targets-after-strong-q1-earnings-but-retain-cautious-stance/articleshow/132752976.cms