Nomura cuts Nifty target to 12,840 on increased risk to near-term earnings
Updated : February 25, 2020 12:31 PM IST
The brokerage cut Nifty earnings estimates for FY21 and FY22 by 2 percent and 0.9 percent, respectively.
Nomura reset its Nifty target to 12,840 from 13,070 earlier, implying an upside of 6 percent from the current levels.
Post Q3, Nomura's investment approach remains selective, with a preference for investment over consumption space.