Hot Stocks: Brokerage view on Axis Bank, Hero MotoCorp, Oberoi Realty and Tata Elxsi
Tata Elxsi, Jefferies recommended a hold rating on Oberoi Realty, CLSA has an outperform rating on Hero MotoCorp and Morgan Stanley maintained an overweight rating on Axis Bank.
Want to take exposure to a sector which grows much faster than GDP
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JPMorgan on Tata Elxsi: Underweight| Target Rs 6000
JPMorgan maintained an underweight rating on Tata Elxsi but slashed the target price to Rs 6000 from Rs 6200 earlier.
The Q3 print was in line in terms of revenues but it missed on margins. There is a dual challenge on the growth front, and it looks like margins seem to have peaked.
The global investment bank remains underweight, as the valuation burden is excessive.
Jefferies on Oberoi Realty: Hold| Target Rs 1341
Jefferies maintained a hold rating on Oberoi Realty but it slashed the target price to Rs 1341 from Rs 1375 earlier.
The Q3 pre-sales were below estimates and better momentum is ahead likely. Operations are consistently FCF-positive, as capex in large new offices and malls winds down.
“At 15%+ premium to NAV, we find near-term triggers priced in,” said the note.
CLSA on Hero MotoCorp: Outperform| Target Rs 4964
CLSA maintained an outperform rating on Hero MotoCorp with a target price of Rs 4964. Attractive price points could help Hero gain a share in the premium segment.
Mavrick 440 should help Hero gain market share in the 250cc+ segment. Hero bolsters its product line-up in the premium motorcycle segment.
Morgan Stanley on Axis Bank: Overweight| Target Rs 1450
Morgan Stanley maintained an overweight rating on Axis Bank with a target price of Rs 1450.
The private sector lender reported good numbers but
