HDFC Bank and Sun Pharma as well as on HUL. Meanwhile, Morgan Stanley recommended an Equalweight rating on Paytm.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Macquarie on HDFC Bank: Outperform| Target Rs 2110
Macquarie maintained an outperform rating on HDFC Bank with a target price of Rs 2110.
HDFC Bank is in Macquarie Asia impact selection list.
HDFC Bank is heavily exposed to the structurally poorer semi-urban and rural areas. The business is naturally geared towards financial inclusion.
The focus is on financing structurally poorer and semi-urban/rural areas.
Macquarie on Sun Pharma: Outperform| Target Rs 1275
Macquarie maintained an outperform rating on Sun Pharma with a target price of Rs 1275.
Patents licensing for Deuruxolitinib to improve IP thicket.
The brokerage firm believes that this was a necessary step in the wake of the invalidation of the '149 patent (drug substance patent) by Incyte Pharma.
The licensing agreement adds another potential indication of Androgenic Alopecia, should the company choose to develop the product.
Macquarie on HUL: Outperform| Target Rs 3000
Macquarie maintained an outperform rating on HUL with a target price of Rs 3000. Channel checks point to no festive-linked uptick in the demand trends.
The demand trend remains largely similar to that seen in Q2.
We accordingly expect volume growth to be similar to Q2 levels at 2-3%.
The brokerage firm expects a flat EBITDA margin on a QoQ basis.
Morgan Stanley on Paytm: Equal Weight| Target Rs 830
Morgan Stanley maintained an Equal Weight rating on Paytm with a target price of Rs 830. The company announced scaling down of its low-ticket postpaid lending business.
This will