We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on Suzuki: Overweight | Target Rs 10,483
Morgan Stanley maintained an overweight rating on Maruti Suzuki post December quarter results with a target of Rs 10,483.
“The company has an impressive Q3 mix and there is a higher possibility of market share improvement ahead,” said the note. Maruti is also a top pick in autos for Morgan Stanley.
BofA Securities on Maruti Suzuki: Buy| Target Rs 10,600
BofA Securities maintained a buy rating on Maruti Suzuki with a target price of Rs 10,600 post December quarter results.
“Power of mix, new launches, and benign raw materials starting to play out. Margins beat in Q3 underscores the power of the product mix,” said the note.
Citigroup on : Sell | Target Rs 800
Citigroup maintained sell rating on post December quarter results with a target of Rs 800.
“TVS beat was primarily driven by robust realisations. The domestic bikes segment market could also see elevated competition,” said the note. “Valuations provide limited room for error,” it added.
JPMorgan on Pidilite Industries: Underweight | Target Rs 2300
JPMorgan remained underweight on Pidilite Industries post Q3 results with a target price of Rs 2300. The stock closed at Rs 2382 on 24 January.
“Earnings misled by unexciting revenue delivery. The commentary was cautiously optimistic about demand recovery,” said the note.
“Muted volume growth in the consumer and bazaar segment was led by strained rural demand,” it added. The global investment bank expects a downward revision to FY23 consensus estimates.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
