Hot Stocks: Brokerage view on Infosys, HDFC Bank, Piramal Pharma and Indigo

Brokerage Nomura maintained a neutral rating on HDFC Bank, Kotak Mahindra Bank has a buy rating on InterGlobe Aviation, Jefferies recommended a buy on Piramal Pharma and UBS maintained a buy on Infosys.

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

Nomura on HDFC Bank: Neutral| Target Rs 1625

Nomura maintained a neutral rating on HDFC Bank with a target price of Rs 1625. HDFC Bank has a significant depth in senior management, which it has demonstrated in the past as well.

The global investment bank does not expect any material impact on the business owing to this change in senior management.

“Any similar churn at the senior management level over the near-to-medium term will be a key monitorable,” said the note.

Kotak Mahindra Bank on InterGlobe Aviation: Buy| Target Rs 4200

Kotak Mahindra Bank maintained a buy rating on InterGlobe Aviation but raised the target price to Rs 4200 from Rs 3700 earlier.

Boeing could meaningfully limit the capacity addition of peers over time. The real demand is not served fully by supply and will grow at a healthy pace.

IndiGo to benefit from timely orders of past and healthy pricing ahead. Pricing would likely remain healthy over time and less prone to irrationality by airlines.

UBS on Infosys: Buy| Target Rs 1800

UBS maintained a buy rating on Infosys with a target price of Rs 1800. Q4 earnings may have a modest impact on its stock price, given the narrow range of expectations.

The global investment bank expects conservative guidance for FY25. The guidance range of 4-7% could still excite the market. A probable buyback could support the market price.

Jefferies on Piramal Pharma: Buy| Target Rs 170

Jefferies maintained a buy rating on Piramal Pharma with a target price of Rs 170. The debate over FY25 guidance given macro uncertainty around outsourcing.

The global investment bank models 12.5% revenue growth for FY25, but believe Piramal can do better.

A 15% revenue growth could drive 45% EBITDA growth in FY25. The stock is trading at an attractive risk-to-reward ratio.

(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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