We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
BofA Securities on Varun Beverages: Buy| Target Rs 1650
BofA Securities maintained a buy rating on Varun Beverages post March quarter results but raised the target price to Rs 1650 from Rs 1600 earlier.
The March quarter earnings beat expectations, and the management is looking ahead at a strong CY24.
The company is gearing up for a good peak season. South Africa’s capacity is expected to be ready before its peak season in 4Q.
Jefferies on Zomato: Buy| Target Rs 230
Jefferies maintained a buy rating on Zomato but raised the target price to Rs 230 from Rs 205 earlier.
The company has enjoyed a great run so far and the global investment bank expects more modest returns in the near term.
The management is top-notch, which is why Jefferies has retained its buy rating.
Easy money is made and return expectation should be more modest at least in the next few months.
Morgan Stanley on AB Capital: Equal Weight| Target Rs 200
Morgan Stanley has an Equal Weight rating on AB Capital but raised the target price to Rs 200 from Rs 190 earlier.
The adjusted PAT was largely in line with estimates. The lending businesses’ performance remained muted and the non-lending businesses was better than estimates.
The guidance was strong across businesses. The global investment bank slashed its consolidated EPS estimates by 4% for FY25, 2% for FY26 and 2% for FY27.
Motilal Oswal on UPL: Neutral| Target Rs 560
Motilal Oswal maintained its neutral stance on UPL with a target price of Rs 560. The domestic brokerage firm expects H1FY25 to remain challenging for the global agrochemical industry.
H2FY25 is expected to witness a recovery in overall demand and a pricing scenario globally. Considering short-term challenges, cash flow generation and debt repayments remain key monitorables.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)