Hot Stocks: Brokerage view on Coforge, Federal Bank, ONGC and Bajaj Finance
Brokerage firm Jefferies downgraded Coforge, and maintained a buy rating on Bajaj Finance and a buy call on ONGC. Morgan Stanley maintained an Equal Weight rating on Federal Bank.
Brokerage firm Jefferies downgraded , and maintained a buy rating on and a buy call on . Morgan Stanley maintained an Equal Weight rating on .We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on Bajaj Finance: Buy| Target Rs 9260
Jefferies maintained a buy rating on Bajaj Finance with a target price of Rs 9260. Lifting of RBI's restrictions to aid business and improve growth visibility.
The global investment bank views the development as positive, as the resolution has come within just 6 months of imposition.
The global investment bank saw an impact of +10% on new loans booked & 4% on consol. Bajaj Finance is Jefferies’ top NBFC pick.
Jefferies on ONGC: Buy| Target Rs 390
Jefferies maintained a buy rating on ONGC with a target price of Rs 390. Better profitability on pricing reforms is well appreciated.
There is skepticism about production growth, and KG ramp-up in Q3 will be a key trigger for the stock.
The profitability of the KG basin is a concern, better realization should offset higher opex.
Morgan Stanley on Federal Bank: Equal Weight| Target Rs 180
Morgan Stanley maintained an Equal Weight rating on Federal Bank but raised the target price to Rs 180 from Rs 165 earlier.
The core PPoP growth was 4% YoY adjusted for one-offs in costs/fees. The asset quality was strong and credit costs stayed low.
With no likely rate cuts in the near term, RoAs should stay strong. The target price rises as we roll our valuation forward and reduce beta amid good performance. The valuation appears fair at the current price.
Jefferies on Coforge: Underperform| Target Rs 4290
Jefferies downgraded Coforge to underperform from buy earlier but slashed the target price to Rs 4290 from Rs 7650 earlier.
The company reported an all-around miss. There is no growth guidance given for FY25. Margins continue to disappoint.
A large acquisition announcement adds to the risk, 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)
The global investment bank views the development as positive, as the resolution has come within just 6 months of imposition.
The global investment bank saw an impact of +10% on new loans booked & 4% on consol. Bajaj Finance is Jefferies’ top NBFC pick.
Jefferies on ONGC: Buy| Target Rs 390
Jefferies maintained a buy rating on ONGC with a target price of Rs 390. Better profitability on pricing reforms is well appreciated.
There is skepticism about production growth, and KG ramp-up in Q3 will be a key trigger for the stock.
The profitability of the KG basin is a concern, better realization should offset higher opex.
Morgan Stanley on Federal Bank: Equal Weight| Target Rs 180
Morgan Stanley maintained an Equal Weight rating on Federal Bank but raised the target price to Rs 180 from Rs 165 earlier.
The core PPoP growth was 4% YoY adjusted for one-offs in costs/fees. The asset quality was strong and credit costs stayed low.
With no likely rate cuts in the near term, RoAs should stay strong. The target price rises as we roll our valuation forward and reduce beta amid good performance. The valuation appears fair at the current price.
Jefferies on Coforge: Underperform| Target Rs 4290
Jefferies downgraded Coforge to underperform from buy earlier but slashed the target price to Rs 4290 from Rs 7650 earlier.
The company reported an all-around miss. There is no growth guidance given for FY25. Margins continue to disappoint.
A large acquisition announcement adds to the risk, 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)
Source: Stocks-Markets-Economic Times
