stocks in news: Hot Stocks: Brokerages on Jubilant FoodWorks, L&T, SBI Life and Surya Roshni

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Brokerage firm Citigroup maintained its buy rating on Jubilant FoodWorks, JPMorgan has an overweight rating on L&T and Goldman Sachs retained its buy call on SBI Life.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Citigroup on Jubilant FoodWorks: Buy | Target Rs 619
Citigroup maintained a buy rating on Jubilant FoodWorks with a target of Rs 619. Jubilant FoodWorks’ recent underperformance was led by weak results.

“Inflation-led lower items per bill and downtrading led to weak results. Inflationary trends in raw material (RM) prices led to weak margins,” the brokerage said.

However, the brand’s long-term growth trajectory remains strong which makes the global investment bank optimistic on the stock.

JPMorgan on L&T: Overweight | Target Rs 2480
JPMorgan maintained an overweight rating on L&T with a target price of Rs 2480. The capex cycle is trending strong. The global investment bank expects the FY24 core revenue guidance to be robust.The stock has outperformed in the last 4 out of 5 times in the pre-election period. The global investment bank raised its core multiple at 21.3x FY25E vs. 20x.

Goldman Sachs on SBI Life: Buy | Target Rs 1520
Goldman Sachs maintained a buy rating on SBI Life with a target of Rs 1520. The global investment bank likes SBI Life for its leadership in both market share and profitability.

FY24-25E value of new business (VNB) estimates are 7%-11% above consensus. The global investment bank reiterates a buy on SBI Life and the stock is also on its Conviction list.

AnandRathi on Surya Roshni: Buy | Target Rs 860
AnandRathi maintained a buy rating on Surya Roshni with a target price of Rs 860.

“Despite Covid-19 pandemic, the company’s EBITDA margin remains intact to 7% which depicts its operational efficiency and command over its pricing power,” it said. Also, Surya is the largest GI pipe manufacturer in India and the second largest player in lighting with a robust track record.

“We forecast its EPS to grow at CAGR of 27% over FY22-24E and ROE to improve to 15% in FY24 (average 10% over FY16-FY22),” said the note.

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

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