Hot Stocks: Brokerage view on Voltas, Bharat Forge, Hero MotoCorp and TVS Motor
Jefferies maintained a buy rating on TVS Motor and Hero MotoCorp post Q4 results. Citigroup recommended a sell on Bharat Forge and a buy on Voltas post March quarter results.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Jefferies on TVS Motor Company: Buy| Target Rs 2525
Jefferies maintained a buy rating on TVS Motor Company with a target price of Rs 2525. The growth momentum continues and is scaling new heights.
India 2Ws segment is poised for strong growth and the export market is also recovering. The margins are also showing signs of improvement.
The earnings per share (EPS) has more than trebled in the last three years, and the global investment bank expects it to more than double in the next three years.
Jefferies on Hero MotoCorp: Buy| Target Rs 5650
Jefferies maintained a buy rating on Hero MotoCorp with a target price of Rs 5650. The company delivered another good quarter as it recorded an all-time high EBITDA/vehicle.
The 2W segment is poised for growth and Hero expects the 2W industry revenues to grow in double digits in FY25.
However, market share decline in the 2W segment and adverse demand profile shifts are some concerns. The global investment bank sees a 17% EPS CAGR over FY24-26E.
Citigroup on Bharat Forge: Sell| Target Rs 850
Citigroup maintained a sell rating on Bharat Forge but raised the target price to Rs 850 from Rs 800 earlier.
The Q4 results were slightly below estimates. There is a strong positive commentary which was surprising.
