We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Axis Capital on RBL Bank: ADD| Target Rs 280
Axis Capital initiated coverage on RBL Bank with an ADD rating and a target price of Rs 280. The bank is diversifying its loan-mix with a higher focus on retail segments.
Granular liabilities and there is normalization in the asset quality. Healthy net interest margins (NIMs) and fees to drive return on assets (RoA).
Over FY24-26, Axis Capital expects loans/NII/PPOP/PAT CAGRs of 18/18/26/28%.
Jefferies on Reliance Industries: Buy| Target Rs 3140
Jefferies maintained a buy rating on RIL with a target price of Rs 3140. The potential combination will sport the most lucrative cricketing rights in India and has a 40% share of the advertising market.
This opens avenues for better ad inventory monetization and content cost reduction with lower competition.
Disney’s business has been valued much lower than widely reported in the media. This transaction adds Rs 40/share to Reliance’s SOTP.
UBS on Gujarat Gas: Neutral| Target Rs 610
UBS maintained a neutral rating on Gujarat Gas but raised the target price to Rs 610 from Rs 380 earlier.
Improved outlook on volumes and margins as spot LNG prices soften. The industrial segment fuels economics in favour of gas in the near term.
The optionality of alternative fuels to dictate GGAS’s future pricing power. Infrastructure expansion to drive 11% CAGR in CNG volumes over FY24-27.
UBS on Zomato: Buy| Target Rs 195
UBS maintained a buy rating on Zomato but raised the target price to Rs 195 from Rs 150 earlier.
The company reported a strong Q3 despite a modest food delivery slowdown and quick commerce shines. Blinkit surprised both on GMV and margins.
UBS Evidence Lab receipts data for Jan’24 show industry volumes declining 2% MoM in line with seasonality.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)