Broker Target Prices

Consensus range — stocks covered by 2+ houses

* LUCK carries two Foundation figures — 615 in the Strategy 2026 book and 655 in its later cement-sector report. We show both rather than silently picking one; report dates explain the difference (see the Foundation cement table below). The widest disagreement in the market is OGDC: Arif Habib's 311.7 against AKD's 522, on Pakistan's biggest E&P name. Horizons differ as well — read the brackets: a Jun'26 target and a Dec'26 target are not measuring the same finish line.

AKD Securities — Dec'26 targets

BUY-rated unless the source column says otherwise · KSE-100 index target: 263,800 — the most bullish house call on the street.

AKD's wider top-picks universe — where no target price was published in the summaries we collected — adds PPL, UBL, ENGROH, INDU and ILP to the names above. PSO's Rs 900 comes from an AKD research video note rather than a written report — same house, lighter paper trail, so we label it as such. Note the report dates: an AKD target from a September result review has not yet seen the third-quarter numbers, so weight the fresher calls accordingly.

Foundation Securities — Strategy 2026

Published Dec 2025 · Dec'26 targets with the house's stated expected total return · KSE-100 index target: 214,000.

Foundation cement report — 22 Dec 2025 (prices as of 18 Dec 2025)

Same house, two documents, two LUCK targets: 615 in the strategy book, 655 in the cement report days later. Neither is “wrong” — they were struck at different moments with different price bases — but it is exactly why this page always shows the report and its date next to the number.

Topline Securities

Topline's wider top-picks list (no target prices published in its strategy summary): PPL, MEBL, HBL, FFC, ENGROH, LUCK, MLCF, SYS. KSE-100 index target: 203,000 (Dec'26).

Taurus Securities

KSE-100 index target: 206,000 (Dec'26). Taurus published no stock-level target prices in the public summary we collected; its top-picks list is: MEBL, BOP, MCB, HBL, FFC, OGDC, PPL, LUCK, MLCF, FCCL, INDU, PSO.

Arif Habib Limited (AHL) — Jun'26 targets

AHL's published targets below carry a June 2026 horizon — set Jul–Oct 2025, so they are older paper than the Dec'26 calls elsewhere on this page. Read them with the date (and the horizon) attached.

AHL's October 2026 weekly still lists the same core top picks: OGDC, PPL, FFC, LUCK, MLCF, NBP, PSO, DGKC, ENGROH, AKBL, NPL. Its Pakistan Investment Strategy 2026 alpha picks add PTC, SEARL and GCWL alongside ICL above.

Insight Securities

Two documents: the Strategy 2026 book (20 Dec 2025) and a later E&P sector note (19 May 2026). The sector note's OGDC 433 is Insight's latest target for the stock — and the one used in the consensus table above.

Strategy 2026 — 20 Dec 2025

E&P sector note — 19 May 2026 (all BUY)

Insight's Strategy 2026 top picks: OGDC, PPL, PSO, MEBL, SAZEW, FCCL, KOHC.

KTrade Securities (KASB)

KTrade's Pakistan Strategy 2026, “Rally Stage II” (29 Dec 2025), carries a KSE-100 target of 216,000. Its top picks — whose target prices appear in the strategy's published graphic rather than its text — are: NBP, HBL, BAFL, UBL, OGDC, PPL, PSO, FFC, FATIMA, EFERT, FCCL, MLCF, LUCK, SYS; alpha picks: SAZEW, AGP, AKBL, BOP, PTC, AIRLINK, TOMCL, MUGHAL, HUBC, ENGROH.

JS Global Capital

JS Global's Strategy 2026 — “Beyond the boom — 2026 is about selective bets” (3 Jan 2026) — names NATF its top pick; no JS target price for it appears in the public summary.

JS technical desk — short-term trading targets (NOT fundamental TPs)

These are short-term trading levels from JS Global's technical desk — a days-to-weeks horizon, a completely different animal from the 12-month fundamental targets in every other table on this page. They are shown in their own table so the two are never confused.

Ismail Iqbal Securities (IISL)

Sherman Securities

KSE-100 index target: 205,000 (Dec'26).

BMA Capital

IGI Securities — cement universe

Published 30 Oct 2025 (prices as of 30 Oct 2025) · Sector view: Overweight · Top picks: DGKC, FCCL, MLCF, KOHC.

Akseer Research

Intermarket Securities (IMS)

Intermarket published no per-stock target prices in the public summary we collected. Its banks note (Apr 2025) revised earnings −8% while raising target prices ~4% on an improved ROE outlook; its top picks are HBL and BAFL.

Target Price Track Record — did they hit?

The targets above are live calls. These are finished ones — previous targets whose horizons have passed, scored against what the share price actually did. 32 verified calls: 20 hits, 12 misses.

How a call is scored: a target is a ✓ HIT if the share's daily closing price reached or exceeded it at any point between the date it was set and its horizon date; otherwise it is a ✗ MISSED, and we show the highest close it did reach, and by how much it fell short. Prices are daily PSX closes (Yahoo Finance price history, fetched 6 Nov 2026) — a series that checks out to the paisa against prices the houses themselves published at the time: DGKC at Rs 216.42 on 30 Oct 2025 and Rs 245.2 on 18 Dec 2025, FCCL at Rs 50.0 and Rs 57.7 on the same dates. Set-date basis: the Dec'25 rows are the houses' December-2025 target tables as recorded in the KSEStocks database in February 2025, so “Feb 2025” is the recorded date of the table, not necessarily the day each analyst first struck the number. Two calls cannot be scored fairly — one never stated a horizon, the other survives only as an undated summary — so they sit at the bottom as not verified rather than carrying a guessed verdict.

Scoreboard by house — verified calls only

Three honest caveats before anyone trades off this table. First, the Dec'25 rows lean on one extraordinary stock: FFC roughly doubled into December 2025 (highest close Rs 601.47), so every house's FFC target was hit — even AKD's street-high 583 — while EFERT split the street cleanly: the five lowest targets were hit, the five highest missed, Ismail Iqbal's by eight paisa. Second, the Jun'26 calls were struck into a market that peaked early in 2026 and then slid — only 3 of the 8 verified Jun'26 calls landed. Third, the samples are tiny: a 100% rate on one or two calls (Chase and KTrade appear in the missed column on single calls) says almost nothing about a house. What the table does show is the habit worth copying — targets are checkable, and houses that publish them can be followed up.

This section also brings three more houses onto the page: Pearl Securities, Al Habib Capital Markets and Spectrum Securities appear in the Dec'25 tables above. We have no current-horizon targets from them in the public summaries collected, so they enter through the track record — which makes 18 research houses covered on this page in total.