Hot Stocks: Brokerage view on RIL, Coal India, MGL and ABB India
RIL), while Citigroup recommended a neutral rating on Coal India and upgraded MGL to neutral. UBS maintained a buy rating on ABB India.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Goldman Sachs on RIL: Buy | Target: Rs 3400
Goldman Sachs maintained a buy rating on RIL but raised the target price to Rs 3,400 from Rs 2,925 earlier. The global investment bank sees a 17% EBITDA CAGR over FY24-27. Capex peaking in longer gestation capex businesses.
New business returns are likely to be higher, and capex to EBITDA turn is faster. Returns inflection has been a key driver for RIL shares outperformance.
The risk-to-reward ratio is still favorable, and the catalyst pipeline is much stronger ahead.
Citigroup on Coal India: Neutral | Target: Rs 430
Citigroup maintained a neutral rating on Coal India with a target price of Rs 430.
The global investment bank expects disappointing e-auction price trends in Q4. Every Rs 100 per tonne change in e-auction prices impacts EPS by ~2%.
Citigroup on MGL: Neutral | Target: Rs 1405
Citigroup upgraded MGL to neutral from sell earlier with a target price of Rs 1,405. The management is optimistic about volume & margin outlook.
UBS on ABB India: Buy | Target: Rs 7,550
UBS maintained a buy rating on ABB India but raised the target price to Rs 7,550 from Rs 5,380 earlier.
The company has the best quality electrification and mobility growth. Electrification and motion to drive growth and margins.
More upside to consensus on
