Hot stocks: Brokerage take on L&T Finance, Bajaj Finance, Gujarat Gas, Sun Pharma, and others
Brokerage firms such as UBS have maintained a buy rating on L&T Finance, while JP Morgan maintained an overweight rating on Bajaj Finance, Citi has initiated coverage on Indegene and maintained a sell rating on Gujarat Gas.
Brokerage firms such as UBS have maintained a buy rating on L&T Finance, JP Morgan maintained an overweight rating on , Citi has initiated coverage on and maintained a sell rating on , Jefferies has maintained a buy rating on , and Kotak Securities has upgraded to add from sell.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
UBS on L&T Finance: Buy | Target price: Rs 230
UBS maintained a buy rating on L&T Finance with a target price of Rs 230
L&T Finance’s Q1FY25 business update of retail disbursements and AUM were up 33% and 31% YoY respectively, both in line with UBS’ expectations. Microfinance (+28% YoY) and urban retail disbursements (+44% YoY) remained strong, but SME was weak.
JPMorgan on Bajaj Finance: Overweight | Target price: Rs 8,500
JPMorgan maintained an overweight rating on Bajaj Finance with a target price of Rs 8,500.
Growth accelerates after the lifting of the RBI ban. Customer additions stood at 44.7 lakh, which was the highest ever, placing the company in favorable stead to beat its full year's guidance of 1.2-1.4 crore. Q1 operating metrics are likely to continue to stand out among large-cap financials.
Citi on Indegene: Sell | Target price: Rs 510
Citi has initiated coverage on Indegene with a target price of Rs 510.
Citi expects the company to benefit from accelerated digitalization of the life sciences industry. The global brokerage firm is constructive on the business and like the strong management team underpinned by robust domain expertise. Current valuations appear to be pricing in the positives.
Citi On Gujarat Gas: Sell | Rs 500
Citi has maintained a sell rating on Gujarat Gas with a target price of Rs 500.
A hike in gas prices comes against the backdrop of a 50%+ increase in spot LNG prices in recent months. Citi is concerned with the company's recent strategy to compete with propane while the recent recovery in Morbi volumes could, once again, reverse on the back of a price hike.
Jefferies on Sun Pharma: Buy | Target price: Rs 1,785
Jefferies has maintained a buy rating on Sun Pharma with a target price of Rs 1,785.
US FDA observations at Dadra suggested a long path toward remediation. Warning letter for Sun's Dadra plant includes repeat observation among which ineffective quality systems have been flagged as a key concern. Though Sun's dependence on generics for growth has declined over the years, system-wide violations may take a long time to resolve.
Kotak Securities on Lupin: Add | Target price: Rs 1,400
Kotak Securities has upgraded Lupin to add from sell with a target price of Rs 1,400.
Domestic brokerage firm states that the party will continue for Lupin against robust earnings outlook. Strong US trajectory is expected to continue in FY25E and FY26E. The potential upside from Tolvaptan is underappreciated. Kotak Securities has raised FY25-27 EPS by 3-16% on higher US sales and EBITDA margins.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Source: Stocks-Markets-Economic Times
