The stock of Vedanta Ltd (ADR) (NYSE:VEDL) hit a new 52-week high and has $17.73 target or 35.00% above today’s $13.13 share price. The 8 months bullish chart indicates low risk for the $9.91 billion company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $17.73 price target is reached, the company will be worth $3.47B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 291,248 shares traded hands or 27.70% up from the average. Vedanta Ltd (ADR) (NYSE:VEDL) has risen 114.21% since March 30, 2016 and is uptrending. It has outperformed by 111.20% the S&P500.
Vedanta Ltd (ADR) (NYSE:VEDL) Ratings Coverage
Out of 2 analysts covering Vedanta (NYSE:VEDL), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Vedanta has been the topic of 2 analyst reports since June 9, 2016 according to StockzIntelligence Inc. CLSA upgraded the stock to “Buy” rating in Thursday, June 9 report. The firm earned “Buy” rating on Wednesday, October 5 by Citigroup.
According to Zacks Investment Research, “Vedanta Limited is a natural resource company. The company’s business primarily involves exploring, extracting and processing minerals and oil & gas. Its segments include zinc, oil & gas, lead, silver, copper, iron ore, aluminium and commercial power. The company operates primarily in India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Vedanta Limited, formerly known as Sesa Sterlite Limited, is based in Panaji, India.”
More news for Vedanta Ltd (ADR) (NYSE:VEDL) were recently published by: Marketwatch.com, which released: “/quotes/zigman/3870025/realtime” on May 14, 2015. Bidnessetc.com‘s article titled: “Vedanta Ltd (ADR), Cairn India To Merge In All-Stock Deal” and published on June 15, 2015 is yet another important article.
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