Jefferies raises Reliance target to Rs 1,705 despite trimming retail EBITDA forecasts
Jefferies retained its Buy call on Reliance Industries and lifted its target price from Rs 1,675 to Rs 1,705. The brokerage cut Reliance Retail EBITDA estimates for FY27-FY29 by 1% after slower core growth and margin pressure from hyperlocal-commerce investments.
Jefferies retained its Buy rating on Reliance Industries and raised its target to Rs 1,705. It said Reliance Retail missed estimates as core growth slowed and margins declined due to hyperlocal-commerce investments, cutting retail EBITDA estimates for FY27-FY29 by 1%.
Why this matters
The target increase follows recent Reliance signals on stronger refining margins amid supply disruptions and analyst calls citing up to 28% upside after Jio Platforms’ IPO filing, while retail growth and margins face pressure.
Retail-company signals are accelerating, up +947600% QoQ.