March 29, 2019 / 7:03 AM / 4 months ago

BUZZ-Goldman Sachs downgrades Info Edge (India); stock trades lower

** Goldman Sachs sees near-term headwinds to Info Edge’s (India) earnings from core businesses

** See limited upside to value accretion from portfolio companies in the near term - Goldman

** Online food services company Zomato and recruitment services portal Naukri.com are among its portfolio companies

** Shares fall 0.6 percent in mid-day after gaining 29.8 pct this year as of Thursday’s close

** Goldman downgrades the stock to ‘equal-weight’ from ‘overweight’ and raises price target to 2,000 rupees ($28.93) from 1,900 rupees

** 16 of 28 brokerages covering stock have ‘buy’ or higher rating, seven have ‘hold’ and one has a ‘sell’ rating ($1 = 69.1210 Indian rupees)

0 : 0
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