We were reading exact same articles about ITC an year back. Now the same analysts are extremely bullish.
Let’s say it this way: Analysts are always bullish when stock is in uptrend and find reasons why stock deserves premium and the reverse is true as well.
You make lot of money buying stock when analysts are pessimistic as long as business fundamentals are great and there is a scope for future growth.
HDFC will not get same valuations like it used and it is expected. You give premium valuations to the stock which is growing at rapid rates. HDFC with its size cannot match it’s past performance but I won’t be surprised if it is still trading 3X book value in 2030.
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