New Delhi, Feb. 26 -- JPMorgan has revised its outlook on Coal India, cutting the stock's target price to Rs.395 from Rs.430, citing multiple challenges in the coal industry. The revised price target suggests an 8% upside from current levels. Despite this, the brokerage has maintained a 'Neutral' rating, indicating a cautious stance on the stock's near-term prospects.

The key concerns highlighted by JPMorgan include weak power demand growth, oversupply-driven lower coal prices, and rising competition from captive players. The brokerage noted that these factors have significantly impacted Coal India's earnings visibility, making it too early for investors to take a bottom-fishing approach.

One of the primary reasons for JPMorgan's downgr...