Hot Stocks: Brokerages on Shriram Finance, ACC, Nestle India, and Laurus Labs
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We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
HSBC on Shriram Finance: Buy| Target Rs 228
HSBC maintained a buy rating on Shriram Finance with a target price of Rs 228. A 4% profit beat was led by lower provisions despite higher-than-estimated operating costs.
The global investment bank has hiked FY24/25/26 EPS estimates by 6.2-8.8% to reflect an improved margin outlook and lower credit costs.
Valuations multiple raised on stronger profitability outlook.
Morgan Stanley on ACC: Underweight| Target Rs 1650
Morgan Stanley maintained an underweight rating on ACC with a target price of Rs 1650. The EBITDA was much higher than expected led by higher volumes and lower costs.
Realizations were weaker, and the cash position moved down slightly on a QoQ basis.Jefferies on Nestle India: Hold| Target Rs 19900
Jefferies maintained a hold rating on Nestle India with a target price of Rs 19,900. The volume miss in Q1 was offset by margin expansion.
The revenue growth was broad-based across cities and towns and also product segments.
The global investment bank likes the packaged food story, but valuations remain expensive.
Jefferies on Laurus Labs: Underperform| Target Rs 250
Jefferies maintained an underperform rating on Laurus Labs with a target price of Rs 250. The company missed estimates for the 4th consecutive quarter with EBITDA margins at a multi-quarter low of 14%.
Lower offtake in antiretroviral (ARV) Formulations. There is a transitory shipment impact in non-ARV APIs.
CDMO performance was weak and Laurus may not have products to fill the void left by Paxlovid.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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