RIL Share | Ultratech Cement Share: Hot Stock: Global Broker for RIL, UltraTech Cement and Godrej Properties

Global brokerage JPMorgan maintains an overrated rating, while CLSA recommends a better rating and BofA Securities maintains a neutral rating.

We have collated a list of recommendations from the top global brokers from ETNow:

JPMorgan on RIL: Overweight | Target Rs 3,170

JPMorgan maintains its overweight rating on

with a target price of Rs 3,170, representing an increase of over 22% from the Rs 2,583 recorded on August 2, 2022.

Corporate radar

RIL’s recent underperformance will reverse as fiscal year 23 earnings visibility increases, JP Morgan said.

“We wouldn’t be surprised to see further tax breaks. Recent popular auctions have further cemented Jio’s market leadership position,” it said.

Investors expect some trouble in allocating capital and refining margin details, the note added.

CLSA on UltraTech Cement: Positive | Target 7,365 Rs

CLSA maintains a better rating on UltraTech Cement with a target price of Rs 7,365, up more than 10% from Rs 6,642 recorded on 2 Aug 2022.

Analysis of the FY22 annual report shows the company is ‘on the right track’ and moving towards high targets for ESG, CLSA said.

The note said capacity expansion provides medium-term growth. The rate of return will be improved in the near future. It is the top pick in the sector, but the short-term outlook will be volatile, it added.

BofA Securities on Godrej Attribute: Neutral | Target 1,650 Rs

BofA Securities maintains a neutral rating on Godrej Properties with a target price of Rs 1,650, representing an increase of more than 12% from Rs 1,463 recorded on August 2, 2022.

Q1 recorded good bookings for new launches while affordability was still meeting demand, it said.

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

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