The reason behind cut in price target is that earnings are expected to get impacted by lockdown due to novel coronavirus.
Global brokerage house Jefferies has upgraded Finolex Cables to buy on favourable valuation and strong balance sheet, but cut price target to Rs 500 from Rs 765 per share.
Its other top midcap picks are Supreme Industries, V-Guard Industries, and Kajaria Ceramics. It has a buy call on all these stocks but slashed targets to Rs 1,260 (from Rs 1,530), Rs 240 (from Rs 290) and Rs 530 (from Rs 775), respectively.
Read the full text moneycontrol