Stock brokerages including Axis Securities, Nuvama Institutional Equities, JM Financial, and Motilal Oswal have come out with research reports on select stocks namely Trent, Coforge, Suzlon Energy, and Bharti Airtel. Here's what brokerages said about these counters
Brokerage firm Axis Securities has a ‘Buy’ rating on Trent stock with a target price of Rs 2,000 per share. According to the brokerage, the stock has reached its Q1FY24 result update target price. However, analysts remain positive on the stock in the longer term and recommend BUY on dips as they expect strong revenue growth in the coming quarters as well
Revenue growth will be achieved by Trent's focus on rapid store expansion and continued assortment renewal, which will lead to higher overall footfall. “In addition, the improvement in the earnings profile across all formats, the reduction in losses at Star Bazaar and the improvement in traction at Inditex JV are also positive signs for the company,” said Axis Securities in its report
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Nuvama Institutional Equities has a ‘Buy’ rating on Coforge stock with a target price of Rs 6,100 per share. The brokerage expects Coforge’s two sweet-spot verticals – Travel and Insurance – to provide incremental boost to its already strong growth profile over the next few quarters
Initiatives during the last few years have transformed Coforge into a niche midcap IT services company with deep domain expertise in its core verticals, which would help it in capturing the strong digital tailwind. A better incentive structure – more spends on sales – coupled with shifting sales personnel closer to client locations has revved up the sales engine with the ability to win larger deals (USD20mn-plus) and also new clients at a faster pace
Brokerage firm JM Financial Services has a ‘Buy’ rating on Suzlon Energy stock with a target price of Rs 30 per share. As the company is on its way to become net-debt free, the brokerage expects Suzlon to deliver revenue and EBITDA CAGR of 31% and 38% respectively over FY23-26E
With industry tailwinds in place, a deleveraged balance sheet and a robust order book, analysts at JM Financial Services expect a strong pick-up in Suzlon Energy’s performance going forward. With reduction in debt, lower interest, cost, and better financial risk profile, the performance of the company is poised for significant improvement
Motilal Oswal has a ‘buy’ rating on Bharti Airtel stock with a target price of Rs 1,020 per share. According to the brokerage, in the near term, Airtel’s earnings should soften with around 2% QoQ growth. This contrasts with the average growth of 5% observed in the preceding eight quarters
Increased capex should lead to a moderation in FCF generation and the pace of deleveraging in the near term for Bharti Airtel. "As a result, valuations may remain under pressure. We value BHARTI at Rs 1,020 based on SoTP, assigning an EV/EBITDA ratio of 10x/5x to the India Mobile/Africa businesses," said Motilal Oswal in its report
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