Business · India Bureau
Hindustan Zinc gains on Jefferies price target upgrade amid metal strength
Jefferies has raised its price target for Hindustan Zinc, citing expectations of improved earnings driven by firm global metal prices. The brokerage's optimistic outlook pushed the stock higher in trading.
LSN India ·
Hindustan Zinc shares climbed 5 per cent following an upward revision of the company's valuation by global brokerage Jefferies. The firm lifted its target price to ₹750 per share from ₹660, signalling confidence in the zinc producer's near-term prospects.
The new target represents potential upside of 26 per cent from the previous closing price of ₹592.60, reflecting expectations that elevated metal prices will underpin the company's profitability. Jefferies maintained its 'Buy' rating on the stock, indicating sustained conviction in the investment case.
The price target revision aligns with broader strength in global commodity markets, where zinc and other base metals have remained firm. As one of India's leading zinc producers, Hindustan Zinc stands to benefit from favourable pricing dynamics that are expected to bolster its earnings in coming quarters.
The upgrade highlights analyst optimism about the company's operational performance against the backdrop of supportive metal prices. Investors have responded positively to the reassessment, with the stock's movement reflecting renewed confidence in the company's earnings trajectory.