We have collated a list of recommendations from top global brokerage firms from ETNow:
JPMorgan on RIL: Overweight| Target Rs 3,170
JPMorgan maintained its overweight rating on
with a target price of Rs 3,170 which translates into an upside of over 22 per cent from Rs 2,583 recorded on August 2, 2022.
RIL’s recent underperformance should reverse as FY23 earnings visibility increases, JP Morgan said.
“We will not be surprised to see further cuts in windfall taxes. The recent spectrum auctions have further solidified Jio’s market leadership,” it said.
Investors expect some breakdown in capex split and refining margin detail, added the note.
CLSA on UltraTech Cement: Outperform| Target Rs 7,365
CLSA maintained its outperform rating on UltraTech Cement with a target price of Rs 7,365 which translates into an upside of over 10 per cent from Rs 6,642 recorded on August 2, 2022.
FY22 annual report analysis showed that the company is ‘on the right track’ and is marching towards steep targets for ESG, CLSA said.
The capacity expansion provides visibility on medium-term growth, said the note. The return ratios should improve going ahead. It is the top pick in the sector, but the near-term outlook is volatile, it added.
BofA Securities on Godrej Properties: Neutral| Target Rs 1,650
BofA Securities maintained its neutral rating on Godrej Properties with a target price of Rs 1,650 which translates into an upside of over 12 per cent from Rs 1,463 recorded on August 2, 2022.
Q1 saw healthy bookings on the new launches while affordability levels are still comforting for demand, it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)