We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Macquarie on RIL: Neutral| Target Rs 2200
Macquarie upgraded RIL to Neutral from Underperform earlier and hiked the target price to Rs 2200 from Rs 2100.
The September quarter results were in line with estimates. Following RIL’s underperformance YTD, it raised the rating to neutral.
To be more constructive on the view, the global investment bank said that it needs to see evidence of a stronger earnings outlook.
Jefferies on Cipla: Hold| Target Rs 1230
Jefferies downgraded Cipla to hold from buy earlier and hiked the target price to Rs 1230 from Rs 1210.
The company has a lower opex which drove the Q2 beat. The US sales grew by 4% on a QoQ basis, but better than estimates.India business can witness 12% CAGR over a five-year period. EBITDA margin guidance was revised up for the year again. The global investment bank sees a limited upside after the recent rally.
Nomura on Maruti Suzuki: Neutral| Target Rs 11,715
Nomura maintained a neutral rating on Maruti Suzuki and raised the target price to Rs 11,715 from 11,663 earlier.
The company had reported a strong Q2 margin, and the global investment bank expects a steady performance.
Stronger margin tailwinds should be sustained in the near term. The falling order book indicates some demand concerns.
Jefferies on Indian Hotels: Buy| Target Rs 450
Jefferies maintained a buy rating on Indian Hotels but raised the target price to Rs 450 from Rs 445 earlier.
The management reiterates a strong industry outlook. The company reported a strong show for a standalone business/domestic network. International operations remain a drag led by the US hotel business.
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(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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