Asian Paints shares dropped 4.3% on Wednesday as most top brokerages maintained their bearish or equivalent ratings after the third quarter results in the wake of pressure on profitability on account of stiff competition. Price targets from analysts with a ‘sell’ or equivalent ratings point to potential downsides of 8% to 25% from Wednesday’s closing price of Rs 2,510. The more optimistic analysts projected upsides of up to 31%.
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