Tuesday, 11 October 2016

Tail wagging the dog?

CLSA on Bharat Forge:

14th July 2016: Sell with a price target of Rs. 655 within one year.
Bharat Forge price: Rs. 727


10th Oct 2016: Buy with a price target of Rs. 1,200 within one year.
Bharat Forge price: Rs. 940

What changed?? Nothing, despite the sell reco the stock went up 25% in the last 3 months. So much for the so-called brokerage recommendations.


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