Goldman Sachs has revised its price targets for Astral and Prince Pipes due to a cautious outlook on the pipe manufacturing sector.

Astral's share price target has been reduced to Rs 2,170 from Rs 2,410, while maintaining a 'buy' recommendation. Astral shares have declined approximately 8 percent over the past year.

The sector is experiencing a gradual recovery in margins and volume growth, although this recovery is expected to be slow. Factors such as extended monsoons and a significant drop in PVC prices have negatively impacted volumes, leading to dealer destocking. However, management commentary indicates that PVC prices are stabilizing and trending upwards, which should help normalize channel inventory.

For Prince Pipes & Fittings, Goldman Sachs has downgraded its rating to 'neutral' from 'buy', with a new target price set at Rs 480, down from Rs 705 per share. The adjustments reflect the ongoing challenges in the pipes sector while acknowledging potential improvements in the near future.