π° Jefferies raises targets for Hindustan Zinc & Hindalco
Jefferies boosted target prices for both Hindustan Zinc and Hindalco Industries, but prefers the former. The brokerage hiked Hindustan Zinc's target to Rs 750, implying a 27% upside potential. For Hindalco, the target was raised to Rs 1,140, yet it maintains a 'Hold' call. This preference stems from stronger outlooks for zinc and silver compared to aluminum. Silver has recovered 23%, while aluminum prices are 10% below their June quarter average. π