24 Feb 2026 | 5 Mins Read
CLSA and Kotak cut ITC stock targets due to tax and competition issues
Flipitmoney
CLSA maintained an 'Outperform' rating on ITC Ltd. with a revised price target of ₹367, a 13% potential upside from the current level. CLSA expects ITC to raise cigarette prices by 33% due to indirect tax increases and potentially face a 30-33% decline in cigarette EBIT. Kotak Institutional Equities has a 'Reduce' rating with a price target of ₹338.