We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Macquarie on Max Healthcare: Underperform| Target Rs 465
Macquarie maintained an underperform rating on Max Healthcare with a target price of Rs 465. Newer hospitals will take their own sweet time to ramp up.
Payor mix rationalisation will be gradual. Valuation remains rich, and the stock is trading at a 50% premium to the regional peer average.
CLSA on Bharti Airtel: Buy| Target Rs 1100
CLSA maintained a buy rating on Bharti Airtel with a target price of Rs 1100. Strong data subscriber additions. Postpaid subscriber acceleration is seen. The company has shown commendable market share gains.
Sharekhan on Apl Apollo Tubes: Buy| Target Rs 2000
Sharekhan maintained a buy rating on Bharti Airtel with a target of Rs 2000. APL Apollo Tubes Limited’s (APL) vision is to create scale (capacity of 5mt/10mt by FY25/FY30) and improve profitability that would drive exponential CAGR of 40%/45% growth in its EBITDA/PAT over FY23-26E.
“Our optimism on robust growth stems from rising application of structural steel tubes in India which provides a large volume opportunity for players like APL,” said the note.
Kotak Institutional Equities on Dixon Technologies: Initiate Sell| Target Rs 4000
Kotak Institutional Equities initiated coverage on Dixon Technologies with a sell rating and a target price of Rs 4000.
Dixon, India’s leading EMS player, is transitioning away from slow-growing segments and where it has a large 30%+ market share to (1) new EMS segments, (2) exports, and (3) component manufacturing.
“It has the right credentials for the first two (FCF to invest, customer references and PLI) and depends on external support for the third (India’s EMS market becoming relevant in size, government’s ability to incentivize collaboration with global majors for Indian companies),” 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)
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