Hot Stocks: Brokerage view on Fusion Micro, IDFC First, Tarsons Products and L&T
IDFC First with a hold rating. ICICI Securities recommends an ADD on Tarsons Products and Prabhudas Lilladher retains a buy on L&T.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Investec on Fusion Micro Finance Ltd: Buy| Target Rs 780
Investec initiated coverage on Fusion Micro Finance with a buy rating and a target price of Rs 780.
Resilient industry and structural developments have created a strong outlook.
The company has a prudent expansion strategy. The brokerage firm expects strong AUM growth (25% CAGR) and profitability (20%+ ROE) over the next 3 years.
Investec on IDFC First Bank: Hold| Target Rs 103
Investec initiated coverage on IDFC First Bank with a hold rating and a target price of Rs 103.
Balance sheet stability should ensure high growth.
The company is placed to deliver the highest growth in the sector over the next 3 years. The recent rally captures growth but not profitability.
ICICI Securities on Tarsons Products: ADD| Target Rs 590
ICICI Securities reinitiated coverage on Tarsons Products with an ADD rating and a target price of Rs 590.
Tarsons Products (Tarsons) offers a range of plastic labware products.
Over the years, it has gained ~25% market share in a segment that was historically dominated by MNCs.
The company is now spreading its wings in niche areas like cell culture and is adding two new plants at Panchla and Amta (both in West Bengal) which it believes may double its available capacities by CY24E.
“Excessive inventory in the system and overheads of new plants may keep a check on growth in the near term. We re-initiate coverage on the stock with ADD rating and target price of Rs 590,” said the note.
Prabhudas Lilladher on L&T: Buy| Target Rs
