From Downgrade of 9,600 to Upgrade of 14,100
In April 2020, the Babus at
Goldman Sachs committed the buffoonery of downgrading the Nifty and condemning it to a basement level of
9,600.
“
We lower our Nifty (end-June 2020) target to 9,600 (prior 10,800) on lower earnings expectations and a target multiple of 15.5x,” the Babus had
said in a grim tone.
Obviously, in the light of the Nifty surging like a rocket to the present All-Time-High of
12800+, some of the Babus may have been given marching orders by the top brass for making such baseless doomsday projections.
So, the new incumbents have gone the other extreme and upgraded the target for the Nifty to
14,100.
“
Our Asia strategy team upgraded India to ‘overweight’ and revised its Nifty target to 14,100 by end-2021,” the global investment bank has
said in a terse manner.
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