ITC price target: Shares a drag on portfolios for 3 years but brokerages are bullish - Here’s why

ITC share price: Shares of ITC have closed below the Rs 300 mark for nine straight sessions. In fact, the stock is in a downtrend both in the short and long term. ITC stock price has delivered negative returns in period up to three years. It slipped 20% in three years and 28% in one and two years each. 

The stock fell 30% in FY26 with 70% of correction coming alone in 2026. Investors lost nearly Rs 2.36 lakh crore in FY26.

The FMCG stock's today's movement is more concerning. It fell below the Rs 290 mark intra day to Rs 288.65 against the previous close of Rs 292.85. Market cap of the firm slipped to Rs 3.66 lakh crore. Total 6.50 lakh shares of the FMCG firm changed hands amounting to a turnover of Rs 18.97 crore. 

ITC shares hit a 52 week low of Rs 287 on March 30 this year. 

ITC shares are trading below all the long term and short term moving averages. 

The stock is trading neither in the oversold nor in the overbought zone on charts with its RSI standing at 37.7 mark. An RSI below 30 signals a stock is oversold on charts. 

ITC share price targets 

Brokerage Systematix has a ‘Hold’ call on ITC stock with a target price of Rs 355. According to the brokerage, the conglomerate saw its cigarette volumes rise 6.5 per cent YoY, while its FMCG segment grew 11 per cent, led by staples such as atta and biscuits. 

Antique Broking has a price target of Rs 408 on the ITC stock. 

Brokerage Sharekhan is positive on ITC stock with a target price of Rs 400. Attractive valuations and diversified business support the outlook, according to the brokerage. 

UBS has a price target of Rs 395 on the ITC stock with a buy call. The brokerage is of the view that new prices should protect volumes. The company has adopted a three-pronged pricing strategy to protect volumes. It has ensured a same-price option across all sensitive variants, which should largely limit volume impact. However, ITC is likely to exceed the bearish consensus expectations for FY27.