Goldman Sachs Updates Ratings and Targets for Indian Oil & Gas Companies

By earn January 12, 2024 #BPCL, #Buy, #Downgrades, #HPCL, #Indian Oil Corp, #Neutral, #ONGC, #RIL, #Sell, #Target Price, #Upgrades

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Goldman Sachs has released updated ratings and target prices for key players in the Indian Oil & Gas sector. Here’s a summary of their latest recommendations:

Reliance Industries Limited (RIL):
- Rating: Maintain Buy
- Target Price: Raised to 2885 from 2660
Oil and Natural Gas Corporation (ONGC):
- Rating: Double Downgrade to Sell from Neutral
- Target Price: Raised to 175 from 160
Bharat Petroleum Corporation Limited (BPCL):
- Rating: Double Downgrade to Neutral from Buy
- Target Price: Raised to 500 from 435
Hindustan Petroleum Corporation Limited (HPCL):
- Rating: Maintain Neutral
- Target Price: Raised to 360 from 245
Indian Oil Corporation (Indian Oil Corp):
- Rating: Double Downgrade to Sell from Neutral
- Target Price: Raised to 105 from 85

Investors and market watchers will be closely monitoring the impact of these adjustments in ratings and target prices on the respective stocks. The notable upgrades and downgrades reflect Goldman Sachs’ evolving outlook on these companies within the dynamic Oil & Gas sector.