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Edelweiss Sec sees momentum in ITC, increases target price

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Edelweiss Sec sees momentum in ITC, increases target price

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Abneesh Roy, Executive Director, Institutional Equities at Edelweiss Securities sees more momentum in the stock in the near-term and has a target price of Rs 265 on ITC.

ITC was one of the top gainers Thursday after the company announced holding its first investor meet on December 14.

Abneesh Roy, Executive Director, Institutional Equities at Edelweiss Securities sees more momentum in the stock in the near term and has the target price of the stock to Rs 265, a 12 percent upside from its previous closing price.
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Roy believes ITC will look to unlock value at a time when hotel players have seen good recovery.
The core business of the company -- cigarette business -- has come back to pre-COVID levels, he said.
For the full interview, watch the accompanying video.
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