Reliance Shares Down 6.7% After Q4 Results as Price Targets Cut to $320–$330
Reliance Inc. shares fell 6.68% last week after reporting weaker-than-expected fourth-quarter results. JP Morgan cut its rating to Neutral and trimmed its price target from $340 to $330, while BMO Capital downgraded to Market Perform with a $320 target.
1. Fourth-Quarter Results and Share Decline
Reliance Inc. reported fourth-quarter results that fell short of expectations, triggering a 6.68% drop in its share price over the week. Investors reacted to lower revenue growth and profitability metrics, intensifying selling pressure on the stock.
2. Analyst Downgrades and Price Target Cuts
Following the earnings release, JP Morgan downgraded Reliance from Overweight to Neutral and reduced its price target from $340 to $330. BMO Capital also moved its rating from Outperform to Market Perform and lowered its target to $320, signaling tempered expectations for near-term performance.