We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
BofA Securities on Muthoot Finance: Buy| Target Rs 1200BofA Securities maintained a buy rating on Muthoot Finance with a target of Rs 1200.
“Earnings were largely in line with estimates. Growth was supported by higher gold prices. FY24 guidance is over 15%+ AUM growth,” it said.
The global investment bank hikes earnings by 1-3% to factor in improved AUM growth forecasts.
BofA on Bandhan Bank: Neutral| Target Rs 280BofA Securities maintained a neutral rating on Bandhan Bank with a target price of Rs 280. “The recovery in the loan growth was led by retail and commercial businesses,” it said.
The brokerage said that there is potential for a short-term upside, but sustained re-rating might take longer.
BofA Securities on Zomato: Upgrade to Buy| Target Rs 85BofA Securities upgraded Zomato to buy with a target price of Rs 85 post March quarter results.
“The company displayed a strong execution on cost control. Sustained cost-control and revenue recovery set the path for re-rating,” it said.
“Improving the visibility of net income profitability is a positive sign,” it added.
BofA Securities on Divi’s Laboratories: Neutral| Target Rs 3250BofA Securities maintained a neutral rating on Divi’s Laboratories with a target price of Rs 3250.
“The Q4 margin lagged expectation given moderation in the raw material/freight costs, the contribution from a high-margin product, and improved operating leverage,” it said.
The global investment bank said that the margin does not reflect the revenue growth, and a meaningful recovery is likely in H2.
Morgan Stanley on Delhivery: Overweight| Target Rs 370Morgan Stanley maintained an overweight rating on Delhivery with a target price of Rs 370 post March quarter results. The company’s revenue missed Morgan Stanley’s estimate slightly.
“The adjusted EBITDA turned positive vs. the expectation of a loss which is a positive sign. The management expects business momentum to continue in FY24 as well,” it said.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)