star health share price: Hot Stocks: Global brokerages on Star Health, Bajaj Finance and ICICI Lombard – Blue Barrows

Global brokerage Citigroup initiated coverage on Star Health with a sell rating, while Morgan Stanley maintained an overweight rating on . Credit Suisse retained outperform call on .

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

Citigroup on Star Health: Sell| Target Rs 670
Citigroup initiated coverage on Star Health with a sell rating and a target price of Rs 670.

The global investment bank believes that the current valuations are at 7.2x FY24E P/B, 46.4x P/E. The valuations do not fully price in headwinds such as pressure on new business, said the note.

It sees risk to regulatory arbitrage in distribution.

Morgan Stanley on Bajaj Finance: Overweight| Target Rs 8500
Morgan Stanley maintained an overweight rating on Bajaj Finance with a target price of Rs 8500.

Bajaj Finance reported a strong Q1, and the global investment bank is of the view that the outlook is strong.

The stock is not cheap, but we see a strong earnings cycle ahead, said the note.

It sees asset under management (AUM) growth accelerating to 30 per cent+ for unsecured consumer finance.

Credit Suisse on ICICI Lombard: Outperform| Target Rs 1430
Credit Suisse maintained an outperform rating on ICICI Lombard with a target price of Rs 1430.

IRDAI has allowed insurers to launch products with prior approvals. The global investment bank sees better infrastructure to aid the rapid rollout of new products.

IRDAI is moving towards a more supervisory role. The global investment bank expects a slew of regulations to be in the pipeline.

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