Indian Hotels Share: Hot Stocks: Global brokerage view on Indian Hotels, Bharti Airtel, Adani Ports and Delhivery

We have collated a list of recommendations from top global brokerage firms from ETNow:

Jefferies on Indian Hotels: Buy| Target Rs 325

Jefferies maintained its buy rating on Indian Hotels post the June quarter results with a target price of Rs 325 which translates into an upside of over 20 per cent from Rs 270 recorded on 8 August.

“The company reported a strong all-around rebound. IHCL reported a strong performance for Q1FY23 EBITDA margin at 29.8 per cent, which was the second highest in the past decade,” said the brokerage.

IHCL is a strong turnaround story, said the note.

CLSA on Bharti Airtel: Buy| Target Rs 953

CLSA maintained its buy rating on Bharti Airtel post the June quarter results with a target price of Rs 953 which translates into an upside of over 35 per cent from Rs 704 recorded on 8 August.

“Q1FY23 revenue and EBITDA ahead of estimates. 4G subscriber additions and ARPU were up 3 per cent QoQ and 25 per cent YoY,” said the brokerage.

Growth in broadband and enterprise businesses is positive, while pan India 5G spectrum in 3.5GHz and 26GHz also auger well, it added.

CLSA on Adani Ports: Outperform| Target Rs 792

CLSA maintained its buy rating on Adani Ports post the June quarter results with a target price of Rs 792. The stock closed at Rs 801 on 8 August.

Large forex loss hurt reported PAT on unhedged FX debt. Traffic is recovering fast, led by coal imports while growth implies CAGR of 17 per cent, over FY22-25, said the note.

The stock is already up 14 per cent in the past year.

Credit Suisse on Delhivery: Downgrade to Neutral| Target Rs 675

Credit Suisse downgraded Delhivery to neutral post the June quarter results with a target price of Rs 675 which translates into an upside of over 5 per cent from Rs 642 recorded on 8 August.

We revise EPS by -280/-14/-18 per cent for FY23/24/25E, said the note. Adjusted margins fall at -12.5 per cent on subscale utilization.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)