Hot Stocks: Brokerage view on Apollo Hospitals, Prestige Estates, Bharti Airtel and City Union Bank

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

Jefferies on Apollo Hospitals: Buy| Target Rs 5300

Jefferies maintained a buy rating on Apollo Hospitals with a target price of Rs 5300. Q4 miss on higher Apollo 24×7 costs.

Apollo is guided for breakeven by 4QFY24 and losses to reduce from hereon. The management maintains a 70% occupancy guidance.

Jefferies on Prestige Estates: Buy| Target Rs 560
Jefferies maintained a buy rating on Prestige Estate with a target price of Rs 560. Expansion is done and execution is ahead. The net debt jumped despite strong collections.

Mumbai commercial project stake acquisition is likely to push the debt further.

CLSA on Bharti Airtel: Buy| Target Rs 140
CLSA maintained a buy rating on Bharti Airtel with a target price of Rs 140. Accelerating gains in post-paid subscribers.

Post-paid tariff plans are available at a significant premium. 5G boosting post-paid plans. The stock is at an all-time high. The stock is available at a highly favourable risk-to-reward ratio.

Macquarie on City Union Bank: Downgrade to Neutral| Target Rs 140
Macquarie downgraded City Union Bank to Neutral with a target price of Rs 140. See weaker growth and ROA inconsistencies.

Reduce sustainable ROA by 10 bps to 1.4% on our outlook for reduced growth and lower margins. Significant underperformance in growth relative to peers.

Decrease our Pre-Provision Operating Profit (PPOP) estimates by ~18-19% over FY24E/25E due to lower margins and loan growth.

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