Hot Stocks: Global brokerages on Adani Ports, Bharti Airtel, and Paytm

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

Goldman Sachs on : Buy | Target Rs 840
Goldman Sachs maintained its buy rating on Adani Ports with a target of Rs 840 post December quarter results.

“The December quarter results were in-line, and the near-term focus is on deleveraging which is a positive sign,” the brokerage said.

“FY24 EBITDA guidance came in at Rs145-150 bn. FY24 capex guidance of Rs40- 45bn, and FY24 debt repayment guidance is of Rs50 bn,” it added.

Morgan Stanley on Bharti Airtel: Overweight | Target Rs 860
Morgan Stanley maintained its overweight rating on Bharti Airtel post December quarter results with a target price of Rs 860.

Morgan Stanley said that the Q3 results were in-line but capex was higher than expectations. “There is visible strength in 4G subscriber growth in India mobile business. ARPUs are trending higher, and in line with expectations,” it said.

JPMorgan on Bharti Airtel: Underweight | Target Rs 700
JPMorgan maintained an underweight rating on Bharti Airtel post December quarter results with a target price of Rs 700.

“Bharti’s Q3FY23 print was broadly in-line. India’s wireless revenue growth was led by both subs and ARPU,” it said.

Macquarie on Paytm: Upgrade to outperform | Target Rs 800
Macquarie upgraded Paytm to outperform post December quarter results with a target price of Rs 800.

“The company reported lower FY23-25E loss-per-share estimates of 18-72%. The biggest surprise came from the distribution business, control of cashback, as well as opex,” Macquarie said.

“Financial services distribution business was the biggest driver of profits. The global investment bank sees a very visible change in the approach of management to deliver profits,” it added.

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