Brokerage firm Morgan Stanley maintained an overweight rating on Maruti Suzuki post Q1 results, Jefferies downgraded GAIL India to underperform and maintained a buy rating on UPL.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on Maruti Suzuki: Overweight| Target Rs 11,164
Morgan Stanley maintained an overweight rating on Maruti Suzuki with a target of Rs 11,164 post-Q1 results. Q1 EBITDA was 4% below Morgan Stanley’s estimates.
The ramp-up of new models will drive market share gains. Mix improvement, commodity and currency tailwinds, and leverage gains will support margin expansion.
The global investment bank views this acquisition as a neutral to positive event.
Jefferies on GAIL India: Downgrade to underperform| Target Rs 105
Jefferies downgraded GAIL India to underperform with a target price of Rs 105. The June quarter was a weak print with misses in transmission and Petchem compensated by a beat in trading.
Elevated gas costs should cap Ebitda growth in transmission. Petrochemicals and LPG will drag on weak pricing. The risk-to-reward ratio is unfavorable.
Jefferies on UPL: Buy| Target Rs 800
Jefferies maintained a buy rating on UPL with a target price of Rs 800. The company reported a disappointing quarter.
There is pressure on volumes and pricing. The global investment bank slashed FY25-26 EPS by 9-10%, and FY24 cuts are sharper. The buy rating stays on an inexpensive PE ratio.
YES Securities on Rossari Biotech: Buy| Target Rs 1030
YES Securities maintained a buy rating on Rossari Biotech with a target price of Rs 1030. Rossari’s reported operating profits at Rs 57.7 crore.
The Ebitda margin stood at 14.1% (4Q: 13.4%) improved marginally due to lower employee costs. Rossari acquired 16% of the remaining stake in Tristar Intermediates for a consideration of Rs 16.9 cr.
Rossari has its R&D at the core and customization through which it aims to deliver growth in volatile macro scenarios. “We maintain a Buy rating with a revised target price of Rs 1,030,” 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)