Synovus Financial weighs merger options after drawing interest - Bloomberg
Investing.com - Bernstein SocGen Group upgraded Indian Energy Exchange (NSE:IEX) stock rating from Underperform to Market Perform on Tuesday, while raising its price target to INR160.00 from INR152.00.
The upgrade comes after three years of maintaining an Underperform rating on the stock, with Bernstein citing a change in its earlier view that volumes would remain soft as renewables wouldn’t come to market.
Despite the upgrade, Bernstein maintains its view that the transaction charge is unsustainable, which prevented the firm from raising its rating further to Outperform.
On the issue of market coupling, which Bernstein describes as "the biggest debate at present," the firm sees the odds at 50%, which it believes is partially priced into the stock already.
Bernstein indicated that further rating changes would depend on gaining clarity regarding market coupling developments or significant price movements in the stock.
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