JPMorgan
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Signals
ITC slips 1% as Q4 revenue misses; Jefferies cuts target to Rs 350, Citi stays Sell
Q4FY26 net profit rose 4.9% to Rs 5,113 cr and EBITDA margin held at 40%, but revenue fell 7% to Rs 16,050 cr. Brokerages flag cigarette tax-hike drag; stock down 29% over 12 months as Jefferies, Citi, Morgan Stanley, JPMorgan and Macquarie stay cautious.
NDTV Profit · 5/22/2026, 5:11:00 AM
Jefferies cuts ITC target to Rs 350 as Q4 profit rises 5% but revenue slips 7%
ITC posted Q4FY26 net profit of Rs 5,113 crore (+4.9% YoY) on price hikes, even as revenue fell 7% to Rs 16,050 crore. EBITDA margin expanded to 40%. Jefferies trimmed TP to Rs 350 from Rs 400 citing cigarette tax hike risk in Q1FY27; Citi, MS, JPMorgan, Macquarie held ratings with cautious near-term view.
NDTV Profit · 5/22/2026, 3:07:30 AM