US brokerage Jefferies has a buy view on TVS Motor, UPL and Marico while CLSA took a buy stance on Petronet LNG and Bharti Airtel ahead of telecom major’s Q2FY24 earnings later today.
Meanwhile, Morgan Stanley and DAM Capital have maintained an ‘Overweight’ and ‘Buy’ views on RIL and Escorts, respectively.
We have collated a list of recommendations from top brokerage firms from ETNow:
Jefferies on TVS Motor: Buy | Target: Rs 2,000
Jefferies has a buy view on the TVS Motor Company stock and the brokerage hiked the price target to Rs 2,000 from Rs 1,750. Commenting on its Q2 earnings, Jefferies called it a new high of quarterly performance. The brokerage also noted that India’s 2W demand is recovering and the company is exhibiting improvement on the exports front too. While the margins are improving, investments remain high, it added.
CLSA ON Petronet LNG: Buy | Target: Rs 270
CLSA has maintained a buy view on Petronet LNG for a price target of Rs 270. The Q2 earnings beat its estimates but the large petchem project was seen as a de-rating worry, the brokerage noted. Management suggested that part of this project may be a tolling style model plus it exuded confidence of very high IRRs. The management has also promised a detailed explanation on project economics in the coming days.
CLSA on Bharti Airtel | Target: Rs 1,100
CLSA has maintained a buy view on the stock with target price of Rs 1,100.
Jefferies on Marico: Buy | Target: Rs 660
Jefferies has maintained a buy view on Marico with target price of Rs 660. Continued revenue decline in India business may upset some investors, it said.
Double-digit GP growth is a fair representation of the performance, it said, adding that the growth portfolio keeps seeing strong traction, and revenue growth should turn positive in H2.
Jefferies on UPL: Buy | Target: Rs 675
Jefferies maintains a buy on the stock though it cut the target price to Rs 675 from an earlier target of Rs 800. Q2 missed estimates though sales/EBITDA declined.
Global channel destocking and elevated pricing pressure among headwinds. The elevated inventory levels are estimated to gradually subside with farm-gate demand, Jefferies said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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