Adani Ports Gains 2% After Credit Suisse Hikes Target Price On Stock

Adani Ports gained nearly 2 percent intraday on Wednesday after a brokerage hiked its target price, citing positive views on the stock. Credit Suisse, in its report, maintained an outperform rating on the stock on the back of a healthy outlook for its container business. It increased the target price to Rs 460 from Rs 360, implying an upside of 27 percent. A reasonable valuation, strong balance sheet and healthy cash flows are key triggers, it added. The brokerage also expects coal volumes to be stable without any incremental decline.
The stock has gained 9 percent in the past one month, while its three-day gain stood at 1 percent. For More Information Visit Now : www.paceresearchindia.com and Call : 8817774774