We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Nuvama on United Spirits: Buy | Target price: Rs 1,630
Nuvama has upgraded the stock to buy from hold and hiked the target price to Rs 1,630 from Rs 1,195.
Strong cost control measures aided healthy margins. The upgrade was given due to margin outperformance, huge headroom in new premium categories, and the upcoming wedding/festive season. Demand recovery in H2, favourable tax slabs in Karnataka, new policy in Andhra, and a potential India-UK FTA deal are mentioned as key triggers by Nuvama.
Nomura on Tata Motors: Buy | Target price: Rs 1,294
Nomura has upgraded Tata Motors to buy from neutral while hiking the target price to Rs 1,294 from Rs 1,141
JLR’s execution can lead to significant upsides and the demerger may unlock value for CVs. Nomura believes the transition from premium to luxury will help JLR stay one level above the high competition segments and this strategy is working well.Incentives for Land Rover have been well under control despite an increasing trend across the rest of the OEMs.Citi on L&T: Buy | Target price: Rs 4,396
Citi has maintained a buy call on L&T with a target price of Rs 4,396. The brokerage stated that it was an in-line Q1 with a decent order inflow in 1QFY25.
The management reiterated a continuing focus on profitable execution and improving return ratios. L&T remains Citi’s top pick as it is well-placed to benefit from growth in capex in India and the Middle East.
Bernstein on Axis Bank: Outperform | Target price: Rs 1,420
Bernstein has maintained an outperform rating with a target price of Rs 1,420 for Axis Bank.
PAT was 11% below expectations on account of higher-than-expected credit costs, while the deposit growth was weaker than its larger peers. NIMs would have been down 6-7 bps QoQ had it not been for the interest on income tax refunds this quarter.
Nuvama on Federal Bank: Buy | Target price: Rs 235
Nuvama has maintained a buy view on Federal Bank and hiked the target price to Rs 235 vs Rs 230 earlier.
A strong AUM and healthy NIM were seen in Q1 but deposits stole the show, while the asset quality held strong. The credit cost and slippage rose on a low base, but remain contained and the new CEO seems confident of deposit growth sustaining at 18-20%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
