Hot Stocks: Brokerage view on Biocon, Info Edge, LIC Housing; Jefferies upgrades M&M
JPMorgan maintained an overweight rating on LIC Housing Finance, Nomura has a buy rating on Info Edge, BofA Securities recommended a buy on Biocon and Jefferies upgraded M&M to buy.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JPMorgan on LIC Housing: Overweight| Target Rs 900
JPMorgan maintained an overweight rating on LIC Housing but raised the target price to Rs 900 from Rs 700 earlier.
The asset quality performance was solid in Q4. The management guided a growth pickup in FY25. Delivery of FY25 growth guidance will be key for further re-rating of the stock.
Nomura on Info Edge: Buy| Target Rs 6750
Nomura maintained a buy rating on Info Edge but raised the target price to Rs 6750 from Rs 6210 earlier post Q4 results.
The company reported strong billing growth across all segments. IT billing shows the first signs of a turnaround.
Real estate is showing a strong recovery with positive industry tailwinds. Other verticals such as matrimony and education continue to grow.
BofA Securities on Biocon: Buy| Target Rs 345
BofA Securities maintained a buy rating on Biocon post Q4 results but raised the target price to Rs 345 from Rs 310 earlier.
There is traction in Biocon Biological Ltd (BBL) and lower R&D drives beat in Q4.
Core margins remain lower, but R&D guidance moderated.
Jefferies on M&M: Buy| Target Rs 2910
Jefferies upgraded M&M to a buy from hold earlier post Q4 results but raised the target price to Rs 2910 from Rs 1615 earlier.
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