We have collated a list of recommendations of top brokerage firms from ETNow and other sources:
Morgan Stanley on Banks: ICICI Bank and Axis Bank
Morgan Stanley maintained a positive view of private sector banks such as ICICI Bank and Axis Bank. Indian banks’ balance sheets are much stronger now, said Morgan Stanley.
The global investment bank expects margins to moderate over the next 4 quarters. However, it remains watchful on deposit growth amid elevated inflation.
Its most preferred names are ICICI Bank & Axis Bank. Morgan Stanley has a target of Rs 1250 on ICICI Bank which translates into an upside of over 40% from Rs 855 recorded on 23 March.
On Axis Bank, it has a target of Rs 1200 which translates into an upside of 42% from Rs 848 recorded on 23 March.
JPMorgan on Tata Motors: Neutral| Target Rs 415
JPMorgan maintained a neutral rating on Tata Motors with a target price of Rs 415. JLR retail outperformance continues on a low base, it said.”JLR outperforms peers in Europe. The business from China remains in line with estimates. The global mix remains strong. China contribution is steady,” JP Morgan said in a note.
Incentive spending in the U.S. and China are increasing steadily which should benefit JLR, it added.
JPMorgan on Hindalco: Overweight| Target Rs 490
JPMorgan maintained an overweight rating on Hindalco with a target price of Rs 490 which translates into an upside of 23% from Rs 398 recorded on 23 March.
The near-term earnings should improve as the global investment bank expects capex to be aligned with CF.
The global investment bank slashed FY24-25 EPS by 8-10% to build in lower LME. “We expect the company to strive for balance in capex with cash flows,” said the note.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
