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We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JP Morgan on L&T Finance Holdings: Overweight| Target Rs 115JPMorgan initiated coverage on L&T Finance Holdings with an overweight rating and a target price of Rs 115.
“The company is displaying healthy growth and collection traction in the retail book. Accelerated run-down of wholesale book. It might avoid drawn-out pressure on overall AUM growth. Steady delivery on retail growth and profitability could lead to continued outperformance,” said the note.
Credit Suisse on Bank of India: Outperform| Target Rs 110Credit Suisse maintained an outperform rating on Bank of India with a target price of Rs 110. Core profitability has improved, and the provisioning remains elevated, it said.
Credit Suisse added that the asset quality has remained strong, with slippages at ~1%. Despite comfortable CET, the management plans to raise Rs 1500 cr via QIP which could result in 4% equity dilution, it said.
BofA Securities on Autos: Buy on Maruti SuzukiBofA Securities remained constructive on the auto space but foresee some EPS cuts in 2023. Auto stocks have remained weak in the last 2 months owing to rising metal prices, supply concerns, and weak Q3 expectations.The global investment bank is constructive on volume outlook across segments for FY24. It sees the risk of EPS cuts over Q3 on tempering down of margins.
“Maruti’s Buy thesis on model cycle and potential share gains. For
, the global investment bank sees a 10-15% upside from current levels as long as India’s business is steady,” BofA said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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