Hot Stocks: Brokerages on Paytm, Axis Bank, Siemens, Cipla & PVR

We have collated a list of recommendations from top brokerage firms from ET NOW:

Citi on (Paytm): Buy | Target Price: Rs 1,055
Paytm has gained market share in digital payments versus PayU, it said. “Paytm is seeing faster growth in its active customer base.”

The stock is trading at 5x FY24E EV contribution profits, said Citi. However, it also acknowledged overhang from further selling by existing pre-IPO shareholders.

JP Morgan on Axis Bank: Overweight | Target Price: Rs 990
Axis Bank’s franchise strength is much better than at any point over the last decade, said JP Morgan. The bank will look to deliver stable performance around current levels.

Global brokerage firm sees a slow pace of retail deposit accretion.

Nomura on Siemens: Neutral | Target Price: Rs 3,008
Nomura has downgraded Siemens to neutral from buy as it has turned cautious after a strong share price rally. It sees potential order inflow growth weakening to low double digits.

It has maintained its FY23/24F EPS estimates as EBITDA margin improvement is offset by modest revenue cuts, the overseas investment banker said.

HSBC on Cipla: Buy | Target Price: Rs 1,340
The foreign broker remains positive with a buy rating on Cipla as the US outlook remains intact despite the Goa setback.

“Cipla has already initiated plans to de-risk key filings from Goa,” HSBC added.

Bank of America on PVR: Buy | Target Price: Rs 2,405
Bank of America (BofA) expects PVR’s business momentum to continue along with a new catalyst on December 15. Q3 is shaping into a strong quarter as the movie pipeline is good, which will continue in the next months as well.

Credit Suisse on banking sector
Short-term rates take a breather as the liquidity drain is paused, said the brokerage. “Short-term interest rates are likely to cool off by 10-30 bps,” Credit Suisse added.

The investment banker continues to like larger banks in the financial space. Wholesale-funded smaller lenders may see some easing of pressure, it added.

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