Uncategorized
Hot Stocks: Global brokerages on HDFC Life, Dr Lal PathLabs and Emami – Blue Barrows
Sep
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
JPMorgan on HDFC Life: Overweight| Target Rs 680
JPMorgan maintained an overweight rating on HDFC Life with a target price of Rs 680. The global investment bank upgraded its FY24/25E value of the new business (VNB) estimates by 6 per cent to get to a 21 per cent 3-Year CAGR.
It sees the potential for better alignment with the parent bank.
Credit Suisse on Dr Lal PathLabs: Underperform| Target Rs 1400
Credit Suisse initiated coverage on Dr Lal PathLabs with an underperform rating and a target price of Rs 1400. The global investment bank sees significant margin pressure ahead.
Dr Lal PathLabs’ ROCE is high currently, and the Indian diagnostics industry is facing heightened competition, said the note.
Goldman Sachs on Emami: Buy| Target Rs 565
Goldman Sachs maintained a buy rating on Emami with a target price of Rs 565. Emami has underperformed peers on its 3-year revenue CAGR.
The global investment bank expects Emami’s growth to recover from H2FY23 after a very high base. Margin pressures will persist in the near term, it said.
It marginally lowered FY23/24/25 EPS by 2-3 per cent. Emami trades at 26x FY24 earnings ~40 per cent discount to the peers, said the note.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
