Laurus Labs hits record high after upgrades, though Kotak still sees 33% downside
Author: CNBC-TV18 Markets·
Key Takeaways
- •Laurus Labs shares touched a record high following multiple broker upgrades.
- •Kotak increased its price target on Laurus Labs from ₹300 at the time of its last downgrade to ₹1,125.
- •The latest target revision came after Laurus Labs reported quarterly results, when Kotak had already raised the target from ₹800.
- •Kotak still estimates about 33% downside from the current share price.
Laurus Labs hits record high after upgrades, though Kotak still sees 33% downside
Laurus Labs shares hit a record high after multiple broker upgrades, even as Kotak continued to view the stock as having downside from current levels.
Since its last downgrade on Laurus Labs to "sell", Kotak has raised its price target on the stock from ₹300 at that time to ₹1,125. The latest revision came after the company’s quarterly results, when Kotak lifted its target from ₹800.
Despite the upward revisions, Kotak still sees about 33% downside in the stock. The contrast highlights how quickly broker views can shift after earnings, while also showing that even a record share price does not necessarily align with every analyst’s valuation framework.