We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JP Morgan on Vedanta: Overweight| Target Rs 350
JP Morgan maintained its overweight rating on Vedanta post December quarter results with a target price of Rs 350.
Q3FY23 reported numbers to benefit from a one-time gain. The focus has shifted to minority approval for Zinc sale.
The global investment bank expects muted stock price reaction to results. “If LME prices sustain over CY23, we could see upside risk to earnings estimates,” said the note.
Jefferies on Bajaj Finance: Buy| Target Rs 7280
Jefferies maintained a buy rating on Bajaj Finance post the December quarter results with a target price of Rs 7280.
The company reported a strong quarter and is targeting around 25% CAGR over the next 5 years.
The company reported a stronger core topline and efficiencies drive earnings. The company raised earnings estimates by 5-6% and see 26% CAGR profit over FY23-25. The growth trajectory remains strong.
JP Morgan on InterGlobe Aviation: Overweight| Target Rs 2350
JP Morgan maintained an overweight rating on InterGlobe Aviation with a target price of Rs 2350.
The global investment bank expects industry demand-supply to result in a favorable yield. Demand remains robust even at a higher yield, said the note.
“FY25E EV/EBITDA as compared to the 10x average until 2019. Other airlines such as Ryan Air, South West, Wizz,DES EasyJet, and Spring are at 4-7x 2023EEV/EBITDA,” it added.
Morgan Stanley on UltraTech &
Morgan Stanley maintained an overweight rating on UltraTech and Shree Cements with a target price of Rs 8500, and Rs 26,000, respectively.
The global investment bank expects domestic demand to remain strong in 2023. It favours cement over steel.
“Ultratech Cement remains our preferred pick followed by
and Dalmia,” said the note.
The global investment remained UnderWeight on ACEM/ACC in cement and
and JSW in steel.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)