Brokerages such as Jefferies, Bajaj Finance, Motilal Oswal, and Nomura have come out with research reports on select stocks namely Bajaj Finance, DCB Bank, Marico, Bajaj Auto. Here's what brokerages said about these counters
Foreign brokerage Jefferies has raised its target price on Bajaj Finance, the non-banking finance company (NBFC), to Rs 9,500 per share, while maintaining a ‘buy’ call on the stock. Jefferies expects the lender's two-wheeler loans to non-Bajaj Auto customers to be of the same size as compared with 2-wheeler loans for the next three years
Jefferies expects Bajaj Finance’s Earnings Per Share (EPS) to grow at a CAGR of 29% over FY23-25. The brokerage house expects AUM to grow at a CAGR of 29% over FY23-25. “Given the strong execution track record, we expect Bajaj Finance to emerge as a player to reckon within the space over the next 3-5 years," said Jefferies
Axis Securities has a ‘Buy’ rating on DCB Bank stock with a target price of Rs 150 per share. According to the brokerage, the improved demand outlook and the management’s guidance of doubling the balance sheet size in the next 3-4 years should keepthe bank’s credit, deposit book healthy
Analysts expect growth momentum to sustain as the bank looks to double its balance sheet size in the next 3-4 years. “We expect credit costs to remain muted with no major challenges on the asset quality front. Moreover, operating leverage is expected to gradually kick-in. This along with improved fee income and moderate credit costs should compensate for the lower NIMs moving forward. The stock is currently trading at an attractive valuation," Axis Securities said
Motilal Oswal has a ‘Buy’ rating on Marico shares with a target price of Rs 610. According to the brokerage, the company has achieved around 9.8% CAGR over FY18-23E and is expected toachieve around 15-17% over FY23-25
Analysts at Motilal Oswal maintain a positive view on Marico stock, given attractive valuations and a healthy return on equity (RoE). As per the brokerage volume growth; improvement in brand image of core franchises and higher growth in the food portfolio and premium personal care segment bode well for the company
Brokerage firm Nomura has a ‘Buy’ call on Bajaj Auto stock with a target price of Rs 5,223 per share. According to the brokerage, the premium motorcycle market (>250cc) will continue to record around 10% CAGR over FY23-30F, ahead of the overall motorcycleindustry growth
Analysts at Nomura maintain their target P/E multiple at 17x on Bajaj Auto shares, and attribute it to FY25F core EPS and add Rs 775 cash per share. "We maintain our Buy rating on the stock. Current valuation at ~15.6x FY25F core EPS look attractive, in our view," it said, adding that Bajaj Auto is their preferred pick in the two-wheeler space
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