MCX rises 3% as Morgan Stanley upgrades stock, hikes target price by 66%: Here's why -

MCX

MCX rises 3% as Morgan Stanley upgrades stock, hikes target price by 66%: Here's why -

The shares of Multi Commodity Exchange of India (MCX) jumped around 3 percent on December 31 after Morgan Stanley upgraded its rating on the stock, and hiked its target price by as much as 66 percent. The shares of the company rose to Rs 11,198 apiece in the morning trading hours of Wednesday, snapping a two-day losing streak. This comes despite gold and silver futures tumbling today. Morgan Stanley on MCX: Morgan Stanley issued a bullish note for the shares of MCX, upgrading its rating for the stock to 'Equal-weight' and raised its target price to Rs 11,135 per share from Rs 6,710 per share. The latest target price implies an upside potential of more than 2 percent from the stock’s previous closing price of Rs 10,889 per share. All this is for information. This is not a buy/sell recommendation. Thank you, Technofunda24