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Hot Stocks: Global brokerages on Hindalco, Inox Leisure, Indigo and Bharat Forge

Global brokerage firm JPMorgan maintained its overweight rating on and Indigo, BofA Securities maintained its underperform rating on Bharat Forge, and CLSA recommended a buy on .

We have collated a list of recommendations from top global brokerage firms from ETNow:

JPMorgan on Hindalco: Overweight| Target Rs 565



JPMorgan maintained its overweight rating on Hindalco with a target price of Rs 565 which translates into an upside of over 36 per cent from Rs 414 recorded on August 3, 2022.

Novelis earnings and profitability are likely to improve sharply. Novelis earnings were driven by North America. This should assuage concerns about FY23 earnings. Overall free cash was -$73mn & net debt inched up on a Q/Q basis.

JPMorgan on Indigo: Overweight| Target Rs 2,200

JPMorgan maintained its overweight rating on Indigo or with a target price of Rs 2,200 which translates into an upside of over 11 per cent from Rs 1,975 recorded on August 3, 2022.

“Q1 delivered a revenue beat. Pricing tailwind is likely to aid profit turnaround in H2,” said the note. Q2 is likely to see a seasonal dip, it added.

BofA Securities on Bharat Forge: Underperform| Target Rs 620

BofA Securities maintained its underperform rating on Bharat Forge with a target price of Rs 620 which translates into a downside of over 14 per cent from Rs 726 recorded on August 3, 2022.

Truck orders fell and CAT machine sales were negative while Class 8 truck orders continue to trend in a downward trajectory, it said, adding that the risk-to-reward ratio is unfavourable.

CLSA on Inox Leisure: Buy| Target Rs 737

CLSA maintained its buy rating on Inox Leisure with a target price of Rs 737 which translates into an upside of over 22 per cent from Rs 603 recorded on August 3, 2022.

“Company saw record ticket prices and revenue. The stock recorded a big beat in 1QFY23 revenue. The company delivered its best-ever quarter performance,” it said.

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

Source: Indiatimes.com

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