Asian Paints Shares Dip 7% Post Q3 Results: Buy, Sell, or Hold?

• Asian Paints shares fell nearly 7% after reporting a 5% YoY drop in Q3 consolidated net profit to Rs 1,060 crore.
• Consolidated net sales increased 3.9% YoY to ₹8,850 crore, and PBDIT climbed 8.8% YoY to Rs 1,781 crore.
• Citi reiterated a 'Sell' rating with a revised target price of Rs 2,300, citing weak underlying demand and missed estimates.
• Morgan Stanley maintained an 'Underweight' rating with a target of Rs 2,194, highlighting growth below consensus and intense competition.
• Nomura maintained a 'Buy' rating, revising its target to Rs 3,250, believing peak competitive pressure is over and expecting earnings growth.

Why It Matters: Asian Paints saw a profit dip in Q3, leading to varied analyst ratings from 'Sell' to 'Buy'.