Brokerage firm Jefferies has cut its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) estimates for financial year 2026-2028 and its price targets for JSW Steel Ltd . and Tata Steel Ltd . in its latest note on Wednesday, December 10.

The EBITDA estimate for JSW Steel over financial year 2026-2028 has been cut between 4% to 15%, while for Tata Steel, the EBITDA estimate has been cut between 2% to 6% for the same timeframe.

Jefferies has also cut JSW Steel's price target to ₹1,300 from ₹1,400 earlier, while Tata Steel's price target has seen a marginal cut from ₹210 to ₹200.

However, the brokerage has maintained a "buy" recommendation on both of these stocks, but prefers Tata Steel over its peers.

Jefferies wrote in its note that the drop in Asian and Indian stee

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