India's Emami up as Citi upgrades stock, hikes TP

Emami

01/09/2023 09:19

** Shares of Emami Ltd  EMAM.NS  rise as much as 3.9% to 545
rupees, highest since Aug. 23
    ** Citi upgrades stock to "buy" from neutral, hikes TP to
600 rupees from 455 rupees
    ** Co to benefit from investments behind long-term strategic
initiatives, say Citi analysts 
    ** They expect EMAM's growth trajectory to accelerate driven
by multiple initiatives
    ** If trend stands, stock on track for fifth consecutive
session of gains
    ** More than 1.1 mln shares change hands by 01:37 p.m. IST
vs 1.3x 30-day avg of 877,523 shares
    ** Analysts covering the stock on average have a "buy"
rating; median PT is 520 rupees - Refinitiv data
    ** Stock up 23.4% so far this year as of last close


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))