Hot Stocks: Brokerages view on Bajaj Finance, Avenue Supermarts, Dabur India and Marico
Bajaj Finance, while Morgan Stanley maintained an Equal-Weight rating on Avenue Supermarts, and an overweight rating on Dabur India as well as Marico. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:BofA Securities on Bajaj Finance: Buy| Target Rs 8700BofA Securities maintained a buy rating on Bajaj Finance and hiked its target price to Rs 8700 from Rs 8130 earlier. Strong start to FY24 as core asset under management (AUM) growth accelerates to 32% YoY/+9% QoQ.
This should also reinforce confidence in BAF's stated long-term growth guidance of 25-27%. The company is on track to beat the upper end of its 11-12mn customer acquisition guidance comfortably. The global investment bank continues to like Bajaj Finance on its industry-leading profitable growth.Morgan Stanley on Avenue Supermarts: Equal-Weight| Target Rs 3786Morgan Stanley maintained an Equal-Weight rating on Avenue Supermarts with a target price of Rs 3786.
June quarter was the third consecutive quarter in which growth has been weaker than expected. We estimate an implied SSSG of 7%.Morgan Stanley on Marico: Overweight| Target Rs 611Morgan Stanley maintained an overweight rating on Marico with a target price of Rs 611. The global investment bank expects Marico to continue to report YoY improvement.
It expects better volume growth, revenue growth trends and EBITDA margin further in Q1.Morgan Stanley on Dabur India: Overweight| Target Rs 606Morgan Stanley maintained an overweight rating on Dabur India with a target of Rs 606. The global investment bank expects Dabur to report improving YoY top-line growth. Growth is likely to be aided by better rural demand as well as a normalized healthcare segment base.
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