Icici Prudential share price: Hot Stocks: Global brokerages on ICICI Prudential, D-Mart, Tata Elxsi, Federal Bank and Shree Cement – Blue Barrows

Global brokerage Morgan Stanley maintained its overweight rating on , JPMorgan remained underweight on D-Mart and , BofA Securities maintained its buy rating on and Citigroup maintained sell call on .

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Morgan Stanley on ICICI Prudential: Overweight | Target Rs 650
Morgan Stanley maintained its overweight rating on ICICI Prudential with a target price of Rs 650. Continued delivery on the value of the new business (VNB) is positive, it said.

The company delivered a 7 per cent beat which was due to favourable annual premium equivalent (APE) mix shift. The management sees an upward bias to the VNB margin.

We expect retail protection APE to come to grow in H2FY23, said Morgan Stanley.

JPMorgan on D-Mart: Underweight | Target Rs 3445
JPMorgan maintained its underweight stance on D-Mart with a target of Rs 3445 as it believes margins lag expectations.

The global investment bank stays underweight on the stock amid expensive valuations. It sees a lack of earnings upgrade triggers post results.

JPMorgan on Tata Elxsi: Underweight | Target Rs 4300
JPMorgan remained underweight on Tata Elxsi with a target price of Rs 4300. Project deferrals and supply issues impact revenues and margins, said JP Morgan.

Challenges still remain and the growth momentum is also showing signs of slowing down. It slashed earnings per share (EPS) by 2 per cent for FY23 while FY24-25 EPS.

BofA Securities on Federal Bank: Buy | Target Rs 160
BofA Securities maintained its buy rating on Federal Bank with a target price of Rs 160. Growth/RoA targets upgraded, it said.

“Improving risk appetite to drive better growth. The company recorded the highest QoQ loan growth in the past 15 quarters, and the CASA ratio is stable,” it added.

The global investment bank upgraded ROA/NIM targets for FY23 to 1.25/3.3 per cent.

Citigroup on Shree Cement: Sell | Target Rs 19500
Citigroup maintained its sell rating on Shree Cement with a target price of Rs 19,500. Shree Q2 EBITDA fell 42 per cent on a YoY basis on cost pressures.

EBITDA beat Citi estimate on lower costs. Easing cost pressures should help margin expansion in FY24, said the brokerage note.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)