Hot stocks: Brokerage view on Hyundai Motor, UltraTech and Oberoi Realty
Nomura and Macquarie have initiated coverage on Hyundai Motor India even before its listing, assigning a buy and outperform rating, respectively. Meanwhile, Jefferies has a hold rating on Oberoi, and Bernstein has a market-perform rating on Ultratech Cement.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Nomura on Hyundai Motor: Buy | Target price: Rs 2,472
Nomura has initiated coverage on Hyundai Motor with a buy rating and a target price of Rs 2,472.
The company is focused on style and technology, and its ongoing premiumization strategy should drive high-quality growth. There is significant potential for the Indian car industry, with current penetration at just 36 cars per 1,000 people. HMI is poised for healthy long-term growth due to its emphasis on style and technology. Capacity expansion in H2 and the launch of several new models (including four EVs) over the next 3-4 years are key catalysts.
Macquarie on Hyundai Motor: Buy | Target price: Rs 2,235
Macquarie has initiated coverage on Hyundai Motor with an Outperform rating and a target price of Rs 2,235.
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