Hot Stocks: Brokers for Tata Consumer, Eicher Motors and Asian Paints

Brokers like Citigroup have started buying buy ratings for Tata consumersCLSA maintains Buy on . rating Eicher engineand Macquarie retained its superior ratings on painted asian.

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

Citigroup on Tata Consumer: Buy | Target 1,020 Rs
Citigroup has initiated a Buy rating on Tata Consumer with a Buy rating and target price of Rs 1,020. The company is gaining traction across segments.

Financial performance is likely to improve further. The global investment bank projects a consolidated revenue/EBITDA/EPS CAGR of 12%/17%/22% for the period 2023-26.

Rich valuations are guaranteed, based on long-term business prospects, brand strength and improved company financial metrics.

CLSA on Eicher Motors: Buy | Target 4,266 Rs
CLSA maintains a Buy rating on Eicher Motors with a target price of Rs 4,266. The market share of the 250 cc motorcycle segment is increasing in the premium motorcycle segment.

The global investment bank believes that making money at RE (Royal Enfield) rates is quite difficult at the moment. If the brands are positioned at a significantly higher level, the volume will be very small.

Macquarie on Asian Paints: Outperform | Target 3,800 Rs
Macquarie maintains its superior performance against Asian Paints with a target price of Rs 3,800. The focus is on expanding distribution/adding capacity to strengthen leadership positions.

Ebitda margin normalization and working capital intensity should boost ROCE by 300 basis points to 28% in FY2024. weed is expected to be limited.

Kotak Institution Equity on Dr Reddy’s: Decrease | Target 4,800 Rs
Kotak Institutional Equities maintains a bearish rating on Dr. Reddy’s Laboratory with a price target of Rs 4,800.

“We recently met with DRRD CFO, Head of Global Biology and visited Dr. Reddy’s flagship biology facility in Bachupally,” the note said.
After slow progress over the past two decades, the company is aiming for a significant increase in biosimilar drug sales (between 2-3% currently) and EBITDA contribution in the coming years.

For the US generics business, increased price stability is a good sign. However, at current valuations, we believe a healthy outlook beyond the US is in the cards.

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


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