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Goldman Sachs sees near-term headwinds to Info Edge's (India) earnings from core businesses. It sees limited upside to value accretion from portfolio companies in the near term.
The online food services company Zomato and recruitment services portal Naukri.com are among its portfolio companies.
The shares fell 0.6 per cent in mid-day after gaining 29.8 per cent this year as of Thursday's close.
Goldman downgrades the stock to 'equal-weight' from 'overweight' and raises price target to Rs 2,000 ($28.93) from Rs 1,900. 16 of 28 brokerages covering stock have 'buy' or higher rating, seven have 'hold' and one has a 'sell' rating.
At 12.45 pm, the stock of Info Edge (India) was trading lower by 0.52 per cent at Rs 1,860.30
($1 = 69.1210 Indian rupees)
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