Brokerage Morgan Stanley retained its bullish stance on Reliance Industries stock and said that there are potential re-rating opportunities across verticals. With a target price of ₹3,046 on the RIL stock, the brokerage firm put an “overweight” call as Reliance Industries stock surged 35 percent in the past year and almost 10 percent in 2024. As per Morgan Stanley, Reliance Industries has the potential to see re-rating across various verticals supported by reduced debt and slower intensity of capex. The brokerage also said that the decline in net debt will lead to re-rating of the RIL stock.
The brokerage highlight increase in demand for global fuel which could lead to long-term concerns unwinding. It also said that impending mobile phone tariff hikes promise to significantly boost Reliance Jio’s revenue and profit while the company’s new energy vertical is also poised to generate fresh revenue.
Goldman Sachs reiterated a “buy” rating on Reliance Industries, with as much as a 54 percent upside by FY26 in its bull case last month. The brokerage firm cited favourable risk-reward dynamics, unlocking from its Disney joint venture and enhanced return on capital investments.
The analysts said that Reliance Retail and Jio Telecom have already reached its peak. RIL will now start seeing improvements in its overall performance, Goldman Sachs analysts predicted.
