We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JP Morgan on TCS: Underweight | Target Rs 3000
JPMorgan maintained an underweight rating on TCS post December quarter results with a target price of Rs 3000.
“The Q3 print was broadly in-line with estimates. The near-term outlook remains cautious. The deal wins remain soft, and the book-to-bill is declining which could be a concern,” the brokerage said.
Jefferies on TCS: Hold| Target Rs 3500
Jefferies maintained its hold rating on TCS with a target price of Rs 3500 post December quarter results.
“Q3 revenues beat estimates but profits were missed due to forex losses. Declining headcount and book-to-bill ratio falling to a 3-yr low point to a sharp growth moderation,” said the note
Morgan Stanley on TCS: Equal-weight| Target Rs 3350
Morgan Stanley maintained an equal weight rating on TCS with a target price of Rs 3350 post Q3 results.
“Revenue beat (positive) but weak book-to-bill ratio (negative). Resilient performance and balanced commentary affirm optimism for FY24 growth,” said the note.
Nomura on TCS: Reduce| Target Rs 2850
Nomura maintained a reduce rating on TCS with a target price of Rs 2850 post Q3 results.
“Q3 reported a modest revenue beat, but margin was a miss. The order book holding is up, but the near-term visibility remains low,” it said.
CLSA on Sona BLW: Buy| Target Rs 535
CLSA upgraded Sona BLW with a buy rating and a target price of Rs 535.
“Acquisition shall open a new growth vertical as Sona Novelic’s financials are impressive,’ it said.
“The acquisition will be accretive to EPS from its first year. The global investment bank expects 28% CAGR for earnings over FY22-25,” it added.
JPMorgan on Tata Motors: Neutral| Target Rs 400
JPMorgan maintained a neutral rating on Tata Motors with a target price of Rs 400.
“JLR wholesales and mix improved on a QoQ basis. The order-book growth remains gradual,” it said.
The global investment bank will watch out for management commentary regarding debt reduction.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
