We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on JSW Energy: Sell| Target Rs 234
CLSA maintained a sell rating on JSW Energy with a target price of Rs 234. Weak merchant markets and wind/Hydro generation are likely to hurt growth.
A 47% rise from its YTD lows in its “thin free-float stock” cannot be justified.
UBS on Havells India: Upgraded to buy| Target Rs 1900
UBS upgraded Havells India to a buy with a target price of Rs 1900.
Structural growth is back into focus alongside a cyclical kicker. Concerns of past two years over now; capital allocation to return accretive.
In terms of valuation, it is the best choice to play the consumer electricals business.Sustained revenue share gains, a higher share of premium products, and a turnaround at Lloyd to aid margins.
Bernstein on HDFC Bank: Outperform| Target Rs 2300
Bernstein maintained an outperform rating on HDFC Bank with a target price of Rs 2300. Feeling incrementally positive with the key takeaways.
There is no major merger-related one-offs expected in the next quarter. There is no change to the target ranges for loan growth/RoA.
Lack of a one-off/idiosyncratic reason to explain the weak QoQ deposit growth.
Nuvama on Sheela Foam: Hold| Target Rs 1162
Nuvama maintained a hold rating on Sheela Foam with a target price of Rs 1162. The cost synergies are apparent-bulk RM buying, logistics, and plants optimization.
The deal is positive on attractive valuation, reviving growth is the key for both brands.
Deal valuation at 26x FY20 is definitely a positive considering Sheela Foam’s standalone business is given a valuation of 40x FY25E PE.
The deal is based on the premise of cost synergies playing out and Kurl-on’s profitability reviving/exceeding FY20 performance.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)