Monday, May 6, 2024

Hot Stocks: Brokerages on Phoenix Mills, L&T Technology, RIL and ICICI Bank

Tuesday, March 21, 2023, 4:33
This news item was posted in Business category and has 0 Comments so far.

Brokerage firm Motilal Oswal initiated a buy rating on Phoenix Mills, Citigroup has a sell rating on L&T Technology Services, CLSA maintained a buy rating on RIL, and BofA Securities has a buy call on ICICI Bank.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Motilal Oswal on Phoenix Mills: Buy | Target Rs 1700Motilal Oswal initiated a buy on Phoenix Mills with a target of Rs 1700. The brokerage firm expects the company to deliver 34% CAGR in EBITDA of the rental portfolio.“Consumption for retail portfolio reporting a steady recovery. The mall portfolio is expected to increase to 14msf by FY27 from ~9msf as of Mar 2023,” said the note.Citigroup on L&T Technology Services: Sell | Target Rs 2960Citigroup maintained a sell rating on L&T Technology Services with a target of Rs 2960. “LTTS has already indicated tightening of budgets and caution in certain segments,” the brokerage said.“Last 3 annual guidance indicate that LTTS is usually conservative; however, valuations are still expensive at ~29x 1-yr forward consensus EPS,” it added.CLSA on RIL: Buy | Target Rs 2970CLSA maintained a buy rating on RIL with a target of Rs 2970, which shows an upside potential of 35%. “The stock is now just 5% above conservative valuations,” CLSA said.“There is some uptick seen in the profits of the energy business in the near term,” it added. Reliance’s stock has fallen by about 20% in less than 4 months.BofA Securities on ICICI Bank: Buy | Target Rs 1100BOfA Securities maintained a buy rating on ICICI Bank with a target price of Rs 1100. “The structural re-rating story has more legs. The best for ICICI Bank is yet to come. Tactical and structural opportunity together equals Attractive risk-reward,” the investment bank said.“The re-rating for the stock is not done yet. It offers better growth/ROE opportunities along with lower risk,” it added.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)

You can leave a response, or trackback from your own site.

Leave a Reply