Brokers bullish on Reliance Industries shares

The Reliance Industries (NSI:RELIANCE) share price has risen by 20.7% over the past month and it’s currently trading at 1964.8. 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, Reliance Industries currently has:

• 17 Buy recommendations

• 3 Hold recommendations

• 1 Sell recommendations

This suggests that analysts are generally positive about the outlook.

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Researching beyond analyst forecasts

At its current price of 1964.8, shares in Reliance Industries are trading at a discount of -1.58% to its 52 week high price. The 1-year performance of the shares has been 51.6%.

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 Reliance Industries it's worth doing some investigation yourself.

There are all sorts of factors that could affect Reliance Industries's share price this year – we simplify them into easy to understand scores with our Stockopedia StockReport. Click here to take a look at the StockReport for Reliance Industries – you might discover some surprising things you didn’t know.