We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
UBS on Indian Hotels: Buy| Target Rs 500
UBS maintained a buy rating on Indian Hotels but raised the target price to Rs 500 from Rs 410 earlier.
The market appears skeptical about ARR/occupancy growth amid a surge in luxury supply. However, analysis suggests a limited overlap.
The brokerage firm remains positive on the overall market on the supply/demand balance.
It is of the view that Indian Hotels can continue to surprise on rooms, ARR, and occupancy. UBS hikes FY25-26E earnings estimates 8-11%.
Jefferies on Honasa Consumer (Mamaearth): Buy| Target Rs 520
Jefferies maintained a buy rating on Honasa Consumer with a target price of Rs 520. Investors appreciate Honasa’s track record, but debates are around growth, margins, competition, offline, etc.
Margins should converge with peers over the long term. The management must go ahead with its growth agenda. It expects key investors to be patient here.
Citigroup on NMDC: Buy| Target Rs 190
Citigroup maintained a buy rating on NMDC but raised the target price to Rs 190 from Rs 160 earlier.
The brokerage firm expects near-term iron ore price at $120/t, with further upside potential towards $130/t.
NMDC’s fines prices are at over 20%+ discount to export parity. Prices have headroom to rise by Rs 1,000/t.
The management is non-committal about price trends going forward. NMDC trades at 3.8x FY25 EV/EBITDA, global peers trade at 4.5-6x. NMDC offers an FCF yield of 8.5%.
BofA Securities on Paytm: Buy| Target Rs 1165
BofA Securities maintained a buy rating on Paytm with a target price of Rs 1165. There are some risks that could lead to a slowdown in loan growth, but the overall impact is limited.
The impact is on personal loans and not on the merchant/BNPL segment.
“We maintain buy as we find risk-reward favorable and find Paytm competitively well placed,” said the note.
Any better-than-expected growth or more partners signing up would likely be taken positively by the market.
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(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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