We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on ITC: Buy | Target price: Rs 585
The global brokerage has maintained a buy rating on ITC with a target price of Rs 585.
The 3% growth in cigarette business volume was in line with expectations, and stable taxation provides visibility for continued momentum in the coming quarters. However, other segments were disappointed in terms of both revenues and margins. While the tough macro environment had an impact, most businesses are expected to see improvement going forward.
Goldman Sachs on Sun Pharma: Sell | Target price: Rs 1,450
Goldman Sachs has maintained a sell rating on Sun Pharma but has raised the target price to Rs 1,450 from Rs 1,350.
The growth in India masks a slowdown in specialty segments. Valuations do not account for multiple risks. The global specialty market continues to experience a slowdown, India’s business growth is softening, and the US generic business remains sluggish.
Jefferies on Adani Ports: Buy | Target price: Rs 1,910
Jefferies has maintained its buy call on the stock and increased the target price to Rs 1,910 from Rs 1,640.
The quarter’s performance was operationally in line, with Q1 EBITDA meeting expectations as margin expansion offset lower realizations. The company remains confident about double-digit growth and has retained its FY25 volume guidance of 460-480 MMT. It continues to focus on capex prudence and returns while gaining market share, with the commissioning of the Dedicated Freight Corridor at Mundra also contributing positively. Jefferies views the logistics potential as an added benefit.
Bernstein on Zomato: Outperform | Target price: Rs 275
Bernstein has maintained an Outperform rating on Zomato and raised the target price to Rs 275 from Rs 230.
The global brokerage firm described Zomato’s Q1FY25 performance as “Flywheel spinning faster,” with the stock remaining its top pick. Zomato delivered another strong quarter with significant beats across segments. Quick commerce gross order value (GOV) was up 130% YoY, with adjusted EBITDA at breakeven as guided. The company plans to prioritize growth, and Bernstein views Zomato as a core internet holding.
JPMorgan on Dabur: Neutral | Target price: Rs 625
JPMorgan has maintained a Neutral rating on Dabur and raised the target price to Rs 625 from Rs 580.
Q1 results were in line with expectations, as the positive rural demand outlook and the rural uptrend boosted confidence in volume growth improvement through FY25. While the healthcare segment faced challenges with resilient HPC (Household and Personal Care), OTC (Over-the-Counter), and Ethicals dragging performance, the beverages segment delivered weak results.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)