CLSA on Delhivery: Underperform| Target Rs 488
CLSA downgraded Delhivery to underperform from buy earlier post-Q4 results and slashed the target price to Rs 488 from Rs 600 earlier.
The Q4 revenue growth was below expectations. Express parcel revenue declined on a QoQ basis, which was a negative surprise.
Service Ebitda margin increased sequentially for the part truckload segment. The management expects to increase the PTL service Ebitda margin in upcoming quarters.
Jefferies on Zydus Life: Hold| Target Rs 1070
Jefferies maintained a hold rating on Zydus Life but raised the target price to Rs 1070 from Rs 750 earlier.Zydus Q4 results were in line with expectations. Strong guidance for FY25 based on US geography was a positive sign.The global investment bank hiked FY25/26 EPS estimates increase by +16%/+29% on higher sales and margins.Jefferies on Anupam Rasayan: Underperform| Target Rs 565
Jefferies maintained an underperform rating on Anupam Rasayan with a target price of Rs 565. The Q4 numbers were broadly in line with expectations but the balance sheet worsened.
Citigroup on Phoenix Mills: Buy| Target Rs 3885
Citigroup maintained a buy rating on Phoenix Mills post Q4 results but raised the target price to Rs 3885 from Rs 3352 earlier.
The company reported decent consumption growth. The pipeline remains healthy.
Phoenix Mills remains the top pick within the India property space.
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