We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on Cipla: Upgrade to Buy| Target Rs 1210
Jefferies upgraded Cipla to buy with a target price of Rs 1210. The US performance leads to the beat in Q1 results. The management commentary provides a positive read-through.
Guidance is revised for the year. The global investment bank increases FY24-26 EPS by 12-20%.
Jefferies on Axis Bank: Buy| Target Rs 1200
Jefferies maintained a buy rating on Axis Bank with a target price of Rs 1200. Margin holds up better than feared. “We estimate a large part of the cost hike has seeped through,” said the note.
Axis Bank is among the top picks given a favorable risk-to-reward ratio.
Jefferies on Dr Reddy’s Laboratories: Buy| Target Rs 6330
Jefferies maintained a buy rating on Dr. Reddy’s Laboratories with a target price of Rs 6330. The Q1 beat was driven by strong US performance.
Strong performance in the US was driven by gRevlimid and new launches. Healthy cash flow generation, targeting M&A in EMs.
Nomura on Tech Mahindra: Buy| Target Rs 1316
Nomura maintained a buy rating on Tech Mahindra with a target price of Rs 1316.
Recovery in the telecom vertical is likely to be gradual. The 2H FY24F is likely to see better growth. Margin miss was driven by provisioning, salary hikes, and revenue decline.
Task cut for incoming CEO, Mohit Joshi, but room for improvement exists. The global investment bank revises FY24-25 EPS by 3-10%.
Jefferies on Colgate-Palmolive India: Buy| Target Rs 2180
Jefferies maintained a buy rating on Colgate Palmolive India with a target price of Rs 2180. The gross margin is at an eight-quarter high displaying strong pricing power.
The stock offers good earnings visibility in the near term. “We would like to see aggression on growth in the medium term,” said the note.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)