Analysts optimistic on ITC outlook

The ITC (NSI:ITC) share price has risen by 5.28% over the past month and it’s currently trading at ₹289.3. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.

According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, ITC currently has:

• 19 Buy recommendations

• 5 Hold recommendations

• 0 Sell recommendations

This suggests that analysts are generally positive about the outlook.

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Researching beyond broker forecasts

At its current price of ₹289.3, shares in ITC are trading at a discount of -1.36% to its 52 week high price. The 1-year performance of the shares has been 42.9%.

While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of ITC it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with ITC that you can find out about here.