Hot Stocks: Brokerages on Zomato, UltraTech Cement, M&M Financial Services and Navneet Education
Zomato, CLSA maintained an underperform rating on UltraTech Cements, Motilal Oswal has a buy on M&M Financial Services and Prabhudas Lilladher recommends a buy on Navneet Education.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
HSBC on Zomato: Buy| Target Rs 120
HSBC maintained a buy rating on Zomato but raised the target price to Rs 120 from Rs 102 earlier.
A deep dive into hyperlocal further raises our conviction on the long-term value of Blinkit, said the HSBC note.
The value for Blinkit is now at $5 billion. In the next 3-4 years, HSBC believes that Blinkit can achieve 6-7% contribution margin (CM) and 3-4% EBITDA margin.
Hyperlocal could be a much bigger business for Zomato in the long term.
CLSA on UltraTech Cements: Underperform| Target Rs 8400
CLSA maintained an underperform rating on UltraTech Cements but raised the target price to Rs 8400 from Rs 7900 earlier.
The global investment bank expects the company to report industry-leading growth and profitability.
The capacity expansion and focus is on renewable energy to aid growth.
Valuations are at 14x FY25 EV/EBITDA where the global investment bank sees a limited rerating potential. The recent rebound in fuel (petcoke/coal) cost should restrict earnings upgrades.
Motilal Oswal on M&M Financial: Buy| Target Rs 350
Motilal Oswal maintained a buy rating on M&M Financial with a target price of Rs 350.
