Analysts and investors have soured on Asian Paints. Can it prove them wrong?
Analysts have washed their hands of the stock. Goldman Sachs, JP Morgan and Citi have all sounded the selling horn on Asian Paints. Is this pessimism warranted, or will the stock take everyone by surprise?
Broad-based pessimism
The pessimism around Asian Paints is not limited to a select few analysts. Of the 38 brokers covering the stock, barely a handful – HSBC, HDFC, and Nuvama – are still positive on it. Only 16% are holding out a ‘buy’ signal, down from 26% at the start of the year and 41% a couple of years ago.
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The stock has also been testing the patience of…
