We have collated a list of recommendations from top brokerage firms (Source: ETNow):
Morgan Stanley on Tata Elxsi: Underweight | Target Price: Rs 5,800
Morgan Stanley has maintained its underweight rating on the stock with a target price of Rs 5,800 over mixed demand outlook across verticals – autos strong, media weak.
The global investment banker said that margins declines led by investments and normalisation of costs while pricing is stable.
Morgan Stanely on Tata Motors: Overweight | Target Price: Rs 502
The global brokerage firm has maintained its overweight view on Tata Motors with a target price of Rs 502 despite the resignation of Jaguar Land Rover (JLR) CEO. Adrian Mardell will be interim CEO.
Morgan Stanley will continue to monitor JLR’s free cash flow improvements and believes free cash flow is the key in the de-leveraging story.
Morgan Stanley on Oberoi Realty: Equalweight | Target Price: Rs 885
The global brokerage firm remains equalweight on Oberoi Realty with a target price of Rs 885 as it sees interest rate impact on residential demand is so far limited.
“Thane launches from the company are likely to launch in the next quarter,” it added. “The company can potentially generate Rs 1,500 crore revenue per annum from the project over next 10 years.”
Jefferies on Home First Finance: Buy | Target Price: Rs 900
Global brokerage firm Jefferies has initiated its coverage Home First Finance with a buy rating and a target price of Rs 900. It finds the company among the fastest growing affordable housing finance companies.
Jefferies expects the company to deliver 30% loan CAGR over FY22-25 by expanding distribution and leveraging superior productivity during the period.
Jefferies on cement stocks
The brokerage said that the worst seems behind us. Past 4 quarters were challenging for the cement sector. “Majority of management indicated that costs for Q3FY23 are likely to be flat/declining,” it said.
Cement pricing trend for Q3 so far is encouraging/positive. “Volume growth for the past two quarters has turned robust and we expect the trend to continue,” it added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)