We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
UBS on Zomato: Buy | Target Rs 80
UBS maintained its buy rating on Zomato with a target price of Rs 80. The global investment bank slashed FY24-25 food delivery GOV for Zomato by 10%.
“Swiggy gained a share in the past six months due to more pronounced increases in Zomato’s delivery fees,” the brokerage said.
“Relaunch of subscription and adjustment in delivery fee/discounts is helping Zomato reverse share loss,” it added.
B&K Securities on Titagarh Wagons: Buy| Target Rs 404
B&K Securities initiated a buy rating on Titagarh Wagons with a target price of Rs 404. The global investment bank sees a strong visibility in the freight wagon segment.“The company is expanding its horizons by entering new markets and building new capabilities, which is a welcome move,” it said.
The global investment bank expects sales/earnings to grow at a CAGR of 41%/45% over FY22-25.
Morgan Stanley on ICICI Lombard: Overweight | Target Rs 1400
Morgan Stanley maintained its overweight rating on ICICI Lombard with a target price of Rs 1400. According to the brokerage, the net profit beat was due to lower underwriting loss and higher investment income.
“The management alluded to cost pressures in commercial lines. Maintained its combined ratio guidance of 102% for FY25,” said the note.
“The stock could trade higher in the near term following good results,” the note added.
JPMorgan on ICICI Lombard: Neutral | Target Rs 1160
JPMorgan maintained its neutral rating on ICICI Lombard with a target price of Rs 1160. The March quarter results were largely in line with estimates.
“It is on track to meet guidance, but that is largely priced in the stock price. Motor business to remain competitive, while P&C may see lower profitability,” it said.
The global investment bank sees a limited change to fundamentals.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
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