Deutsche Bank AG Increases Vedanta Resources plc (VED) Price Target to GBX 900
Vedanta Resources plc (LON:VED) had its target price upped by equities researchers at Deutsche Bank AG from GBX 670 ($8.37) to GBX 900 ($11.24) in a research report issued on Friday. The firm presently has a “hold” rating on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 10.57% from the stock’s current price.
Several other research analysts have also commented on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a GBX 400 ($5.00) price objective on shares of Vedanta Resources plc in a research note on Thursday, November 10th. Jefferies Group raised shares of Vedanta Resources plc to a “hold” rating and lifted their price objective for the stock from GBX 500 ($6.25) to GBX 800 ($10.00) in a research note on Thursday, November 10th. Barclays PLC reaffirmed an “underweight” rating and set a GBX 460 ($5.75) price objective on shares of Vedanta Resources plc in a research note on Thursday, November 10th. Finally, Credit Suisse Group AG raised shares of Vedanta Resources plc to a “neutral” rating and set a GBX 330 ($4.12) price objective for the company in a research note on Friday, October 14th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Vedanta Resources plc currently has a consensus rating of “Hold” and a consensus target price of GBX 475.50 ($5.94).
Vedanta Resources plc (LON:VED) opened at 776.50 on Friday. The company’s market capitalization is GBX 2.14 billion. Vedanta Resources plc has a 52 week low of GBX 195.16 and a 52 week high of GBX 904.50. The company has a 50 day moving average of GBX 676.65 and a 200 day moving average of GBX 517.79.
The firm also recently disclosed a dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be paid a GBX 16.08 ($0.20) dividend. This represents a yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 17th.
In related news, insider Tarun Jain sold 1,844 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of GBX 884 ($11.04), for a total value of £16,300.96 ($20,366.02).
Vedanta Resources plc Company Profile
Vedanta Resources plc is a diversified natural resources company. The Company is engaged in exploring, extracting and processing minerals and oil and gas. The Company’s segments include Zinc-India, Zinc-International, Oil & Gas, Iron Ore, Copper-India/Australia, Copper-Zambia, Aluminum and Power. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas and commercial power and has presence across India, Zambia, South Africa, Namibia, Ireland, Australia, Liberia, United Arab Emirates and Sri Lanka.
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