ITC Ltd is showing signs of stabilizing after a prolonged downturn, with Bajaj Broking identifying a potential inflection point in the stock's trajectory.
The brokerage has designated the FMCG and cigarettes major as a "High Conviction MTF Pick," signaling a shift in sentiment for the name after more than a year of underperformance.
Bajaj Broking analysts project a 14% upside for ITC shares over the coming six months, targeting a price level of ₹330.
Bajaj Broking analysts project a 14% upside for ITC shares over the coming six months, targeting a price level of ₹330.
This outlook is predicated on the stock finding firm footing at a critical support zone, creating what the firm describes as a favorable risk-reward setup for investors.
The recommendation suggests that the worst of the 21-month correction may be behind the stock, opening a window for capital appreciation.
The bullish note arrives as broader Indian equity markets demonstrate renewed strength.