JPMorgan cuts share price target, EPS estimates for ITC, highlights key catalysts
Brokerage firm JPMorgan on Tuesday, April 1, cut its target price on ITC Ltd. and reduced its earnings per shares estimate for FY25-FY27 after the company’s latest acquisition.
However, JPMorgan maintained its “overweight” rating on the stock with a price target of ₹475 per share, which implies a potential upside of nearly 16% from its previous closing price of ₹410.25 apiece.
The brokerage also lowered the company’s financial year 2025-2027 earnings per share (EPS) estimates by 4% – 6% on the back of a reduction in EBIT for cigarettes, other FMCG segments and its paper business.
It said the price increases have been elusive for ITC’s cigarette portfolio amid increased competition activity from Godfrey Phillips and Phillip Morris,…
