Stocks recommended by share market analysts on June 13, 2023: Infosys, FDC, APL Apollo Tubes, ABB

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Stock brokerages such as Motilal Oswal, Anand Rathi, HDFC Securities, and UBS have come out with research reports on select stocks namely Infosys, FDC, APL Apollo Tubes, ABB.
Here's what brokerages said about these counters:

Stocks to buy

Motilal Oswal has a ‘buy’ rating on Infosys shares with a target price of Rs 1,520. According to the brokerage, Infosys’ discretionary business has been adversely impacted by the macroeconomic slowdown over the last few months

Infosys share price target

Analysts at Motilal Oswal expect Infoss’ FY24 revenue growth to be around 5.2% YoY in CC terms, which falls under the lower end of the guidance range. Despite the near-term weakness, the brokerage expects Infosys to be a key beneficiary of acceleration in IT spends in the medium/long term

Why analysts are bullish
on Infosys

Anand Rathi has a ‘buy’ rating on APL Apollo Tubes stock with a target price of Rs 1,500 per share. According to the brokerage, Despite Covid-19 pandemic, company’s EBITDA margin remains intact at 7% which shows its resilience and competitive edge over its peers. “We believe that the company will continue its strong momentum,” it said

APL Apollo Tubes
share price target

According to analysts at Anand Rathi, Apollo Tubes’ Revenue, EBITDA, and PAT is expected to grow at a CAGR of 33%, 32%, and 38% respectively over FY23 to FY25E. APL Apollo’s net debt has reduced, from Rs 788.1 crore in FY20 to Rs 243.4 crore at the end of FY23. Going ahead, the company aims to be debt free entity in FY24

Tailwinds for APL
Apollo Tubes

Foreign brokerage UBS has upgraded ABB India shares to 'Buy' from 'Neutral' earlier, with a revised target of Rs 5,000 against Rs 3,770 earlier. UBS said it remains bullish on industrial automation and low voltage electrification demand and sees an improving case for further operating profit margin growth

ABB share price target

With wide innovation-driven moats and high value-added products, ABB is extending its geographical reach in its leadership segments, such as motors, drives, low and medium voltage switches, and switchgears, which have a lot more room to grow profitably. Further momentum in service-layered long-term projects points to medium-to-long-term growth in revenue share from high-margin services, UBS said

Tailwinds for ABB stock

HDFC Securities has a ‘Buy’ call on FDC stock with a target price of Rs 349 per share. “We feel investors can buy the stock in the band of Rs 297-301.5 and add more on dips to Rs 268 for base case target of Rs 326 and bull case target price of Rs 349 over the next 2-3 quarters,” it said

FDC share price target

Analysts at HDFC Securities estimate an 11.8% CAGR in revenue, led by 16.5% growth in the exports business and 11% CAGR in India formulation business over FY23-25E. Strong revenue growth and improvement in gross margin could drive 18% CAGR in net profit over the same period, it said

Strong revenue growth
seen for FDC

Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position

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