Hot Stocks: Brokerages on HAL, Dixon Technologies, Suprajit Engineering and Delhivery
HAL and an underweight stance on Dixon Technologies. Antique initiated a buy coverage on Suprajit Engineering and Macquarie remains overweight on Delhivery.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Morgan Stanley on HAL: Overweight| Target Rs 4365
Morgan Stanley maintained an overweight rating on HAL but hiked the target price to Rs 4365 from Rs 3471 earlier.
India's aerospace industry has a long runway for growth, said the Morgan Stanley note.
HAL's products continue to get traction to replace foreign fleets.
The value addition locally is likely to increase following an MOU with GE on the engine side. “Export orders could drive the stock closer to our bull case,” the note added.
Morgan Stanley on Dixon Technologies: Underweight| Target Rs 4033
Morgan Stanley maintained an underweight rating on Dixon Technologies but raised the target price to Rs 4033 from Rs 2727 earlier.
The stock price is up ~30% in the past 3 months, driven by customer additions.
Earnings should remain volatile, as seen in the recent quarters.
Valuations do not factor in risks from the potential competitive intensity and a lack of R&D investments and growth post PLI.
Antique on Suprajit Engineering: Buy| Target Rs 459
Antique initiated coverage on Suprajit Engineering with a buy rating and a target price of Rs 459.
The company stands to gain immensely from the recovery in the underlying industry. New products and customer additions are likely to drive the next leg of the growth.
LDC acquisition — a synergistic deal to replicate the Indian success story abroad.
Despite near-term pain in the non-auto business, the long-term outlook remains promising.
Macquarie on Delhivery: Outperform| Target Rs 520
Macq
