CLSA upgrades Vedanta to 'underperform', raises target price to Rs 260

The stock of this mining company has surged 13 percent in the past 3 months, as against 10 percent rise in the benchmark Sensex

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26 Aug, 2025 12:21

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Global brokerage firm CLSA upgraded Vedanta shares to 'underperform' from 'sell' and raised the target price to Rs 260 from Rs 230 as the company guided an earnings before interest, tax, depreciation, and amortisation (EBITDA) target of $6-7.5 billion by FY25-27 through capacity expansion.

The mining company's stock has surged 13 percent in the past three months, as against a 10 percent rise in the benchmark Sensex. Vedanta shares had hit a 52-week high of Rs 301 on May 29, 2023.

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"With deleveraging, the company's capital allocation and corporate structure have been a focal point. The improvement in operational parameters will be key to re-rating. We will keenly watch out the execution of growth and margin expansion projects," the brokerage firm said.

Also read: Options Trade | A non-directional options strategy setup in Vedanta

Earlier, analysts at Phillip Capital upgraded Vedanta to 'buy' with a target price of Rs 330 per share from Rs 290, saying that the company would avoid default and operating performance to improve on cost optimisation and better LME.

"We continue to hold positive outlook as we feel that commodity prices
have the legroom to improve from here, driven by Chinese stimulus and improved demand in H2. The demerger of businesses and potential sales of the ferrous division will provide further flexibility to Vedanta in terms of debt management," the brokerage firm added.

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