We have collated a list of recommendations from top brokerage firms from ETNow:
Morgan Stanley on Trent: Equal Weight | Target: Rs 1,624
Morgan Stanley has an ‘Equal Weight’ stance on Trent and has raised the price target to Rs 1,624 from an earlier Rs 1,475. Trent’s earnings beat Morgan’s estimates. It has raised FY24-26 estimates by 3-6%. It sees an improving trend in Grocery JV.
CLSA on Oil India: Buy | Target: Rs 340
CLSA has a buy on Oil India stock for a price target of Rs 340. The Q1 EBITDA miss was due to NRL shut down while PAT was in line
with CLSA’s estimates. Production guidance for FY24 remains unchanged. The stock offers an attractive dividend yield of 8% and is among the cheapest Indian stocks as well as global E&P companies on PE terms, the brokerage said.
BofA on Zomato: Buy | Target: Rs 110
BofA has a buy view on the Zomato counter for a price target of Rs 110. It sees momentum remaining strong with a clutch of catalysts likely helping the company to further get a re-rating. The platform fee, World Cup and Swiggy IPO re-rating could be the likely triggers. Blinkit shareholder lock in expiry opens August 5.
Goldman Sachs on Avenue Supermarts: Sell | Target: Rs 3,500
Goldman Sachs has a Sell rating on Avenue Supermarts which operates DMart stores. The addition of the pharmacy segment is unlikely to move the needle. High SKU requirements and lower catchment areas with strong organised competition in pharmacy retailing are headwinds, it said in a note.
Goldman Sachs on ZEEL: Neutral | Target: Rs 195
Goldman Sachs remains neutral on ZEEL and puts the price target at Rs 195. Low visibility on growth and weak margins remain a concern, it said. Q1 EBITDA was 21%/49% below consensus/GS estimates. Subdued medium-term growth outlook at 8% CAGR is seen. Expect margins to stay sub 20% till FY25. Sony’s merger could create upside risk though market share improvement might lead to multiple re-rating
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)