Morgan Stanley has an "underweight" rating on the stock with a target price of Rs 460. Meanwhile, Macquarie has a "neutral" rating on Jindal Steel & Power shares with a target price of Rs 557. Also, JSPL said it has reduced its net debt by Rs 1,923 crore in FY23 to a consolidated net debt of Rs 6,953 crore as on March 31, 2023. However, Nuvama Institutional Equities expects weaker near-term earnings due to lower volumes and prices, partially offset by softer raw material costs. Despite a slight delay in the commissioning of its factories, most of which are expected within FY24, it noted and retained its "buy" call on the stock with a target price of Rs 737, up from Rs 688 previously.