We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on LIC Housing: Underweight | Target Rs 320
Morgan Stanley maintained an underweight rating on
with a target price of Rs 320
According to the brokerage, Q3 was a weak quarter with 55% miss on PAT and higher operating costs caused the 17% PPOP miss.
“Slower improvement in loan spreads caused the 12% NII miss,” said the note.
Credit Suisse on Medplus Health: Outperform| Target Rs 750
Credit Suisse maintained an outperform rating on with a target of Rs 750. “Gross margin resilience was driven by private labels,” the brokerage said.
“Q3 leads to 24%/5% increase in FY23E/FY24E EPS,” it added.
JPMorgan on Paytm: Overweight| Target Rs 950
JPMorgan maintained an overweight rating on Paytm with a target price of Rs 950.
“Incremental profitability gives a peek on forward numbers. Financial services scale-up remains on track,” said JPMorgan. The global investment bank upgraded profits, but moderated GMV growth assumptions.
BofA Securities on Varun Beverages: Buy| Target Rs 1530
BofA Securities maintained a buy rating on Varun Beverages with a target price of Rs 1530. “Q422 results keep their fizz, and the trend suggests that there is more to come in 2023,” said BofA Securities.
“Results were ahead of expectations and the company is set for a 34% profit CAGR through 2025E. Newly acquired territories perform well to lead growth. The current valuation offers room to re-rate,” it added.
JPMorgan on Tata Steel: Overweight| Target Rs 140
JPMorgan maintained an overweight rating on Tata Steel with a target price of Rs 140. “Large PAT loss was driven by inventory NRV hit in Europe,” JPMorgan said.
“Key negative was a sharp decline in Europe EBITDA/Ton, and steel prices in India have increased by 10% from Dec exit levels,” it added.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of Economic Times)