Big bullish bet! UBS raises Reliance target price, sees 60% upside
MUMBAI: Global brokerage UBS Securities on Wednesday maintained its ‘buy’ rating on Reliance Industries and raised the target price on the stock to Rs 1,840, implying 60 per cent upside from the current levels in the next one year.
The brokerage said the steep decline in the stock price this year implies no value is being assigned to the energy business.
“We believe the current decline in stock prices offers an opportunity to investors to buy the energy business apparently for free, as the current market cap is 10 per cent below our SoTP (sum of the parts) valuation of the consumer businesses,” the brokerage said in a release.
