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Varun Beverages gains attention after Citi flags acquisition-led upside
Varun Beverages shares rose as Citi maintained a Buy rating, highlighting acquisition plans and projecting nearly 40 percent upside potential.
Varun Beverages Ltd shares came into focus after global brokerage Citi reiterated a ‘Buy’ rating on the stock, citing growth visibility and recent acquisition plans. The FMCG major, one of PepsiCo’s largest franchisees, recently announced its intention to acquire 100 percent stake in a South Africa-based company, strengthening its international footprint. Citi has set a target price of ₹675, indicating a potential upside of nearly 40 percent from recent levels.