We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JPMorgan on PNB: Underweight | Target Rs 34
JPMorgan maintained an underweight rating on PNB with a target price of Rs 34.
The core fee-based income declined by 32%. Gross slippages stood at ~3%, while elevated, they moderated on a QoQ basis. Provisioning costs also remained elevated. High overall stress book relative to peers, the brokerage said.
The public sector bank has a weak single-digit ROE profile which keeps us cautious, it added.
Morgan Stanley on Macrotech Developers: Equal-weight | Target 1145
Morgan Stanley maintained an equal-weight rating on Macrotech Developers for a target price of Rs 1145. The company has been executing well on its plans, the brokerage said.
Key themes for MDL include new launch momentum. Free cash flow generation is leading to de-leveraging. The company is on track to meet its FY23 guidance, it added.
BofA on Mahindra Finance: Buy | Target Rs 245
BofA maintained a buy rating on Mahindra Finance with a target price of Rs 245. The net interest income (NII), and PPOP were a miss in Q2, but the net profit managed to beat estimates, it said.
October’s growth remained strong. CRAR remains strong at 23.8%. The global investment bank retained Buy on improving growth outlook, and AQ recovery, it added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)