We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on ICICI Bank: Buy| Target Rs 1250
Jefferies maintained a buy rating on ICICI Bank with a target of Rs 1250. The private sector bank recorded a healthy growth in loans, but the net interest margins (NIMs) were down.
The retail asset quality is normalizing, and the corporate book is still improving. Slowing Opex growth should support earnings growth when rates fall. ICICI is among the top picks for Jefferies.
Jefferies on Kotak Mahindra Bank: Hold| Target Rs 2050
Jefferies maintained a hold rating on Kotak Mahindra Bank with a target of Rs 2050. Margins hold up and aid topline growth. The deposit growth has improved but is rate-driven.
The December quarter earnings were a tad ahead of estimates, Hold rating stays on premium valuations.
Jefferies on Paytm: Buy| Target Rs 1050
Jefferies maintained a buy rating on Paytm with a target of Rs 1050 post-Q3 results. The profitability timeline is unmoved by lending rejig.
The pace of margin expansion is accelerating, and the lending business must recover post near-term rejig.
Operating leverage to accelerate as workforce addition stabilizes.
CLSA on Zee Entertainment: Sell| Target Rs 198
CLSA downgraded Zee Entertainment to Sell from a buy earlier and has also reduced the target price to Rs 198 from Rs 300 earlier after Zee-Sony merger was terminated.Zee’s valuation will most likely decline to 12x PE levels seen before the merger announcement. The challenge of low promoter ownership.
Competition should intensify with the reported merger of Reliance and Disney Star.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)