Hot Stocks: Brokerage view on TVS Motor, Infosys, Bajaj Auto and HDFC Life

Citigroup on HDFC Life: Buy| Target Rs 710

Citigroup maintained a buy rating on HDFC Life but slashed the target to Rs 710 from Rs 720 earlier.

It is a good medium-term stock pick, but near-term headwinds are likely to persist. The management sounded cautious about product pricing owing to elevated competition.

Agency productivity improvement can surprise positively.

JPMorgan on Bajaj Auto: Overweight| Target Rs 10,000

JPMorgan maintained an overweight rating on Bajaj Auto but raised the target price to Rs 10,000 from Rs 8900 earlier.

The company is preparing for another year of outperformance. Improving export outlook with differentiated strategy across markets.

EV volume momentum can continue to support re-rating. The global investment bank expects domestic market share to be supported by new Pulsars, CNG motorcycle and more launches in Triumph.

JPMorgan on Infosys: Overweight| Target Rs 1700

JPMorgan maintained an overweight rating on Infosys but slashed the target price to Rs 1700 from Rs 1800 earlier.

The Q4 print was a miss. Infosys' new revenue guidance of 1-3% appears realistic.

“We find numbers de-risked for an environment of no-recovery, backed by solid signings and optionality of any cyclicality,” said the note.

The global investment bank slashed earnings by 4-5% which appears to have been priced into the 18% correction over the past month.

Citigroup on TVS Motor: Sell| Target Rs 1450

Citigroup maintained a sell rating on but raised the target pric to Rs 1450 from Rs 1400 earlier.

The competitive intensity seems to be escalating in the E2Ws. Q4FY24 results could be weak. Lower operating leverage could impact Q4 results.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)