We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Macquarie on Bandhan Bank: Neutral| Target Rs 225
Macquarie maintained a neutral rating on Bandhan Bank with a target price of Rs 225. The asset quality continues to disappoint. PAT misses due to lower income and higher credit costs.
Kotak Institutional Equities on Divi’s Laboratories: Sell| Target Rs 3025
Kotak Institutional Equities recommended a sell on Divi’s Laboratories with a target price of Rs 3025. The company recorded a weakness in the generic APIs which continues to weigh on the overall print.
The company is seeing some CSM traction after a lengthy lean patch. The domestic brokerage firm is of the view that valuations are rich.
BofA Securities on Biocon: Buy| Target Rs 310
BofA Securities maintained a buy rating on Biocon but slashed the target price to Rs 310 from Rs 325 earlier.The company is seeing traction in the existing portfolio but needs margin expansion.
JPMorgan on LIC: Overweight| Target Rs 1340
JPMorgan upgraded LIC to overweight from neutral but raised the target price to Rs 1340 from Rs 690 earlier.
The upgrade follows a strong Q3 NBV growth. The global investment bank believes that price outperformance could continue in the near term.
It sees growing market interest in the relative valuation merit of PSU over private players. Relatively, there are minor business implications related to potential surrender value increases.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
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