Hot Stocks: Brokerages view on RIL, ONGC, BPCL, Godrej Consumer and Infosys
CLSA maintained a buy rating on RIL, Goldman Sachs downgraded ONGC, BPCL, and IOC. Jefferies has a buy rating on Godrej Consumer and Nuvama upgraded Infosys to buy ahead of Q3 results.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
CLSA on RIL: Buy| Target Rs 3060
CLSA maintained a buy rating on RIL with a target price of Rs 3060. Organic and inorganic triggers are likely to come together and support the up move in 2024.
A likely pick-up in wireless broadband subscribers may be a surprise for investors. Potential tariff hikes, higher usage due to 5G speeds, and industry consolidation may be other triggers for Jio in 2024.
Stabilisation of substantial retail expansion should drive up operating leverage. 2024 will also see the start of the first of the new energy projects.
The global investment bank expects deleveraging starting from mid-2024 and a potential IPO of Jio and/or retail in the next 12-18 months.
Goldman Sachs on Oil & Gas sector: ONGC, BPCL and IOC
Goldman Sachs downgraded ONGC, BPCL, and IOC while maintaining a buy on RIL and a neutral rating on HPCL. The risk-to-reward ratio as well as valuations are less favourable for Indian energy stocks.
The global investment bank downgraded ONGC to sell from a neutral earlier but raised the target to Rs 175 from Rs 160 earlier.
BPCL was downgraded to neutral from buy earlier but the target price was raised to Rs 500 from Rs 435 earlier.
IOC was downgraded to sell from neutral earlier but the target price was raised to Rs 105 from Rs 85 earlier.
Goldman Sachs maintained a neutral rating on HPCL, and the target was raised to Rs 360 from Rs 245 earlier. RIL also has a buy rating, but the target price was
