We’ve compiled a list of recommendations from ETNow’s top global brokerages.
JPMorgan on : Overweight | Target Rs 5600
JP Morgan maintained its overweight rating on Info Edge with a target price of Rs 5600, which translates to more than 26% upside from Rs 4431 recorded on 12th August.
Core billing remains strong. Naukri continues to be a star, with 99 acres of investment continuing. The global investment bank increased his overall earnings by 6%/7%/7% on 2023/24/25.
Muthoot Finance’s CLSA: Underperforming | Target Rs 1200
CLSA maintained Muhoot Finance’s underperforming rating with a target price of Rs 1200 translating into a marginal rise of more than 1% from Rs 1187 recorded on 12th Aug.
Gold loans have been scaled back while teaser loans have been discontinued to boost yields from next quarter, brokerages said. The expense ratio remains high.
CLSA by Zee Entertainment: Purchase | Target Rs 316
CLSA maintained Zee Entertainment’s buy rating with a target price of Rs.316, representing a more than 30% increase from Rs.241 recorded on 12th August.
“The first quarter was hit by a weak advertising environment. However, first quarter FY23 advertising revenue increased 6% year-on-year. % reduced,” the company said.
We see the closure of the merger as a catalyst for the stock, the memo said.
(Disclaimer: Professional recommendations, suggestions, views and opinions are their own and do not represent the views of The Economic Times)