Hot Stocks: Brokerages on Hero MotoCorp, Mankind Pharma, Coal India, HUL and Tata Motors

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

CLSA on Hero MotoCorp: Downgrade to Sell | Target Rs 2708
CLSA downgraded Hero MotoCorp to sell with a target price of Rs 2708. “Successful implementation of the strategy, as well as recovery in the entry segment, remain key factors to watch out for the 2-wheeler company,” it said.

“Aggressive plans in the premium segment but there is also a high level of competitive intensity,” it added. The global investment bank believes that market share gains for Hero MotoCorp will remain a challenge.

JPMorgan on Mankind Pharma: Overweight| Target Rs 1730

JPMorgan initiated coverage on Mankind Pharma with an overweight rating and a target price of Rs 1730. “It is one of the fastest-growing domestic pharma companies on account of strong volume growth,” it said.

The global investment bank believes that it will continue to gain market share. “The company has a positive strong product portfolio, a large distribution network, and the ability to build brands,” it added.The brokerage firm expects a Revenue/Earnings CAGR of 15%/22% over FY23-26.

Goldman Sachs on Coal India: Sell| Target Rs 180
Goldman Sachs maintained a sell rating on Coal India with a target price of Rs 180.

The global investment bank lowered FY24/25 EPS estimates by 24%/13% owing to higher wages and lower coal prices.

Despite the cut, the target price remained unchanged as Goldman Sachs expects power sector demand to start declining only after FY35 Vs FY30 earlier.

Goldman Sachs on HUL: Neutral| Target Rs 2750
Goldman Sachs maintained a neutral rating on HUL with a target price of Rs 2750. It expects the volume growth and margin recovery to lag peers in H1FY24.

“HUL stepping up ad spend which will be positive for medium-term prospects. Sequential EBITDA margin expansion will be muted,” it said.

CLSA on Tata Motors: Buy| Target Rs 624
CLSA maintained a buy rating on Tata Motors with a target price of Rs 624. “The management is confident of significant operational improvement,” it said.

“EV strategy laid out; successful implementation will be key to challenging peers. Industrial operations, and supplies in place to deliver 400k wholesale units in FY24. Strong guidance on EBITDA margin, and free cash flow generation” it added.

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