We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
UBS on BEL: Neutral | Target price: Rs 340
UBS downgraded the stock to Neutral from buy but hiked the target price to Rs 340 from Rs 333.
UBS noted that the positives are already factored into BEL’s stock, leaving little room for further positive surprises. However, the global brokerage firm remains cautiously optimistic about BEL’s earnings and order book growth. UBS finds the management’s guidance of a 15% top-line growth and a Rs 25,000 crore order run rate to be reasonably achievable.
Jefferies on HPCL: Underperform | Target price: Rs 315
Jefferies has maintained an underperform rating on HPCL but hiked the target price to Rs 315 from Rs 305.
The company surpassed modest estimates in the first quarter, but the outlook is weak. Refining results were below expectations, and margins remained range-bound, while marketing performance was better than anticipated. Profitability remains vulnerable to crude price volatility, with HPCL being particularly sensitive to marketing fluctuations.Jefferies on Colgate: Buy | Target price: Rs 3,570
Jefferies has maintained a buy call on Colgate, while hiking the target price to Rs 3,570 from Rs 3,020.
Colgate displayed impressive revenue growth with HSD volume expansion in Q1. A combination of macro factors, including increased activity in rural areas and strong execution, contributed to this success. Jefferies has upgraded its earnings estimates for the third consecutive quarter, appreciating the company’s growth strategy, and has retained a BUY rating despite the high valuation.
Nomura on ACC: Reduce | Target price: Rs 2,200
Nomura has retained a reduce call on ACC with a target price of Rs 2,200.
The company’s Q1 results witnessed strong volume growth, which delivered a marginal beat on EBITDA. Nomura expects a higher share of MSA volumes, resulting in high-volume growth.
UBS on MCX: Buy | Target price: Rs 5,000
UBS maintained a buy call on MCX and hiked the target price to Rs 5,000 from Rs 4,300.
The company delivered a strong Q1 and Q2 and is still going stronger, showing continued volume growth. However, the profitability was impacted by one-offs. A healthy uptick in options ADV and a marginal decline in futures in July 2024 may be seen.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)