ITC stock: 360 ONE maintains BUY, sees 68% upside; here’s why brokerage is bullish
ITC moved higher in a quarterly results development.
· LiveMint Markets
ITC navigates weakened cigarette volumes due to tax changes but is offsetting losses with price hikes and improving margins. 360 ONE maintains a BUY rating, predicting an upside of 68% with a target price of ₹440 per share despite a 35% stock decline last year.
The analysis
ITC reported ₹440, with movement of 68% and 35% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -3.8% on the day at ₹255.50, and has returned -9.4% over three months. It sits 39% below its 52-week high, which means a good deal of bad news was already in the price. The fmcg sector has moved -4.2% over the same period, so ITC is running 5.2 points behind its peers.
For ITC, the question is how much of this is already reflected in the price and how much re-rates the fmcg peer set alongside it.
Why it matters
- Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Market context
- The company directly in focus is ITC.
- Sector exposure: FMCG.
- The immediate tone of coverage reads negative.
In this story
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