Marico share price target: What should investors do with Parachute coconut oil maker shares?
Marico target price: Mumbai-headquartered FMCG company Marico gained nearly 10 per cent on NSE to the day's high of Rs 582.45 after the firm's strong commentary in Q4 results.
Marico, whose popular brands include Parachute, Nihar, Saffola, Livon and Set Wet reported a consolidated net profit of Rs 318 crore, an increase of 5.3 per cent compared with the corresponding period a year ago. Read more on Marico Q4 results
Here's what brokerages make of Parachute coconut oil maker's Q4 results:
Image: Official website, Reuters and others
Marico target price
JP Morgan has upgraded Marico to an overweight rating from neutral call. The brokerage has raised the target to Rs 605 from Rs 550.
Marico share price target
Citi has retained a buy call on Marico. The brokerage has raised the target to Rs 610 from Rs 585. Citi has noted the following key points:
-Expect trajectory to improve in FY25 due to volume growth acceleration
-Expect the trajectory to improve in FY25 due to pricing-led growth
-The company took 6 per cent price hike in Parachute in April 2024
-Believe continued focus on NPDs/innovations should be accretive to the overall growth
-Strong growth in international business should be accretive to the overall growth
Should you buy, sell or hold Marico shares?
Jefferies has maintained a buy call on the counter with a target of Rs 650.
Marico shares: Buy, sell or hold?
Goldman Sachs too has continued with a buy call with a raised target of Rs 610 from Rs 590.
Is Marico stock a good buy right now?
Macquarie has retained an 'outperform' rating on Marico shares with a target of Rs 615.
Marico share price target 2024
On the flip side, CLSA has maintained a 'sell' call on the stock with a target of Rs 460.