Citigroup Inc. Reaffirms “Buy” Rating for Vedanta Resources plc (VED)

Citigroup Inc. reiterated their buy rating on shares of Vedanta Resources plc (LON:VED) in a report published on Monday, July 31st. Citigroup Inc. currently has a GBX 840 ($10.94) price objective on the stock.

A number of other equities analysts have also commented on VED. Goldman Sachs Group, Inc. (The) reaffirmed a conviction-buy rating on shares of Vedanta Resources plc in a research note on Thursday, April 6th. Jefferies Group LLC cut their price objective on Vedanta Resources plc from GBX 950 ($12.37) to GBX 850 ($11.07) and set a hold rating on the stock in a research note on Tuesday, April 18th. Barclays PLC cut their price objective on Vedanta Resources plc from GBX 800 ($10.42) to GBX 600 ($7.81) and set an underweight rating on the stock in a research note on Friday, April 21st. Finally, J P Morgan Chase & Co cut their price objective on Vedanta Resources plc from GBX 850 ($11.07) to GBX 700 ($9.12) and set a neutral rating on the stock in a research note on Tuesday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of GBX 723.89 ($9.43).

Shares of Vedanta Resources plc (LON VED) opened at 694.00 on Monday. The firm’s market capitalization is GBX 1.93 billion. Vedanta Resources plc has a 12 month low of GBX 476.30 and a 12 month high of GBX 1,112.50. The company has a 50 day moving average of GBX 715.37 and a 200-day moving average of GBX 771.38.

COPYRIGHT VIOLATION WARNING: “Citigroup Inc. Reaffirms “Buy” Rating for Vedanta Resources plc (VED)” was reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://transcriptdaily.com/2017/08/13/vedanta-resources-plcs-ved-buy-rating-reiterated-at-citigroup-inc-updated.html.

The firm also recently declared a dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Thursday, July 20th will be paid a GBX 26.92 ($0.35) dividend. The ex-dividend date of this dividend is Thursday, July 20th. This is a positive change from Vedanta Resources plc’s previous dividend of $16.08. This represents a yield of 4.24%.

Vedanta Resources plc Company Profile

Vedanta Resources plc is a natural resources company, which is engaged in exploring, extracting and processing minerals, and oil and gas. The Company produces zinc, lead, silver, copper, aluminum, iron ore, oil and gas, and commercial power. Its operations are located in India, Zambia, Namibia, South Africa, Liberia, Ireland, Australia and the United Arab Emirates.

Analyst Recommendations for Vedanta Resources plc (LON:VED)

Receive News & Ratings for Vedanta Resources plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vedanta Resources plc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply