Goldman Sachs downgrades India, cuts Nifty target significantly
after close1 source ↓written by the desknot a recommendation
- Nifty target
- 25,900
- 29,300
- in CY26
- 8% earnings growth
- in CY26
- 13% in CY27
- valuation re-rating
- 19.5x
Goldman Sachs has downgraded its outlook on Indian equities to marketweight, slashing its 12-month Nifty target to 25,900 from 29,300. The firm warns of an impending earnings downgrade cycle driven by elevated oil prices due to geopolitical tensions, which may lower profit estimates in the coming quarters.
This cautious stance reflects a projected 8% earnings growth in CY26 and 13% in CY27, alongside a modest valuation re-rating to 19.5x. Immediate market implications may include increased volatility as investors reassess growth expectations.
Not investment advice. For informational purposes only.