Brokerage agency Jefferies maintained an underperform ranking on Dixon Technologies, Nomura upgraded Apollo Tyres to impartial, Jefferies suggest purchase on Adani Ports and HSBC downgraded Colgate to carry.
We have collated a listing of suggestions from prime brokerage companies from ETNow and different sources:
Jefferies on Dixon Technologies: Underperform | Target Rs 6350
Jefferies maintained an underperform ranking on Dixon Technologies put up This autumn outcomes however raised the goal worth to Rs 6350 from Rs 5920 earlier.
The This autumn numbers have been consistent with estimates however the risk-to-reward ratio appears to be like stretched. In FY24, ex-Mobiles, and most different product segments reported muted development.
High valuations may normalize as soon as the high-growth section is behind.
Nomura on Apollo Tyres: Neutral| Target Rs 512
Nomura upgraded Apollo Tyres to Neutral from a cut back ranking earlier however raised the goal worth to Rs 512 from Rs 478 earlier.The focus is on a positive combine, and worth hikes are more likely to help margins. The present valuation doesn’t look costly given the wholesome FCF yield.Jefferies on Adani Ports: Buy| Target Rs 1640
Jefferies maintained a purchase ranking on Adani Ports with a goal worth of Rs 1640. The administration has guided for five years of double-digit development.
The administration is focusing on an 18% EBITDA CAGR in FY24-29E. Ports EBITDA is predicted to rise at 16% CAGR between growth and present ramp-up.
The international funding financial institution stays optimistic given the capex prudence with a return focus.
The administration is optimistic on market share positive factors at acquired ports and likewise Mundra with Dedicated Freight Corridor commissioning.
HSBC on Colgate Palmolive India: Hold| Target Rs 2900
HSBC downgraded Colgate-Palmolive India to carry from purchase earlier put up This autumn outcomes and slashed the goal worth to Rs 2900 from Rs 2950 earlier.
Colgate has had a robust run, which now weighs on good outcomes. The earnings outlook is normalising and valuation seems wealthy. The margin growth on the tempo seen final yr is unlikely to proceed ahead.
(Disclaimer: Recommendations, recommendations, views, and opinions given by consultants are their very own. These don’t signify the views of the Economic Times)
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