We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Motilal Oswal on Phoenix Mills: Buy | Target Rs 1700
Motilal Oswal initiated a buy on Phoenix Mills with a target of Rs 1700. The brokerage firm expects the company to deliver 34% CAGR in EBITDA of the rental portfolio.
“Consumption for retail portfolio reporting a steady recovery. The mall portfolio is expected to increase to 14msf by FY27 from ~9msf as of Mar 2023,” said the note.
Citigroup on L&T Technology Services: Sell | Target Rs 2960
Citigroup maintained a sell rating on L&T Technology Services with a target of Rs 2960. “LTTS has already indicated tightening of budgets and caution in certain segments,” the brokerage said.
“Last 3 annual guidance indicate that LTTS is usually conservative; however, valuations are still expensive at ~29x 1-yr forward consensus EPS,” it added.
CLSA on RIL: Buy | Target Rs 2970
CLSA maintained a buy rating on RIL with a target of Rs 2970, which shows an upside potential of 35%. “The stock is now just 5% above conservative valuations,” CLSA said.
“There is some uptick seen in the profits of the energy business in the near term,” it added. Reliance‘s stock has fallen by about 20% in less than 4 months.
BofA Securities on ICICI Bank: Buy | Target Rs 1100
BOfA Securities maintained a buy rating on ICICI Bank with a target price of Rs 1100.
“The structural re-rating story has more legs. The best for ICICI Bank is yet to come. Tactical and structural opportunity together equals Attractive risk-reward,” the investment bank said.
“The re-rating for the stock is not done yet. It offers better growth/ROE opportunities along with lower risk,” it added.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)