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Last Updated : Aug 06, 2015 12:25 PM IST | Source: CNBC-TV18

Earning upgrades to outdo downgrades from H2FY16: Citi

Aditya Narain, Citi said the market will have to be patient but H2FY16 on he believes there are more upgrades than downgrades.


Aditya Narain, Citi believes that it is still an earnings downgrade cycle, but the pace & extent is falling, and the number of upgrades is rising.


According to him, at 13 percent growth expectations over FY16 and 19 percent growth expectations over FY17, the biggest cuts are probably done. He said the market will have to be patient but H2FY16 on he believes there are more upgrades than downgrades.


"We stay positive on the market and maintain our Sensex target of 32,200 for December 2015 and 35,000 June 2016," Narain said.

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First Published on Aug 6, 2015 09:13 am
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