We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Citi on Ramco Cements: Sell | Target price: Rs 750
Citi has maintained a sell call on Ramco and hiked the target price to Rs 750 from Rs 735.
The company’s EBITDA/t is holding up at the cost of market share however, Ramco lost market share as they consciously chose not to sell at significantly weak prices. The stock will likely underperform until Ramco has resolved the conflict between market share and pricing.
UBS on Tech Mahindra: Sell | Target price: Rs 1,250
UBS has retained a sell call on Tech Mahindra while hiking the target price to Rs 1,250 from Rs 1,215.
UBS believes that it was a good start to the new strategy. FY25 guidance by the management remains unchanged and the outlook is positive for BFSI. It seems like a turnaround candidate, and UBS will wait for the strategy to unfold before revising its outlook.Jefferies on Laurus Labs: Underperform | Target price: Rs 250
Jefferies has maintained an underperform rating on Laurus Labs with a target price of Rs 250.
CDMO and formulation drove a big miss in Q1. CDMO division may not deliver up to expectation even in coming quarters and the formulation division disappointed on lower ARV sales. The company provided no guidance but only qualitative commentary.
UBS on Syngene: Sell | Target price: Rs 650
UBS has maintained a sell rating on the stock with a target price of Rs 650.
There is an elevated risk to FY25 guidance and a tall take ahead for the management to deliver on guidance. Q1 was a miss on margin and there is unlikely a near-term relief.
The company needs mid-teens growth and 100bp margin improvement in H2.
Morgan Stanley on Cyient: Underweight | Target price: Rs 1,550
Morgan Stanley has downgraded the stock to underweight from overweight and cut the target price to Rs 1,550 from Rs 2,250.
Q1 was a miss on all counts and post a sharp miss in Q1, the global brokerage firm sees a reset in growth for Cyient but expects risk to the revised revenue guidance given the high ask rate and weak track record. Morgan Stanley sees EPS CAGR for F24-26 at 1.6% and expects the stock to inch closer to the last five-year average P/E.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)