Jefferies has a buy rating on Honasa Consumer and Motilal Oswal recommended a neutral stance on DLF.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
IIFL Securities on Sun TV: ADD| Target Rs 731IIFL Securities downgraded Sun TV to ADD from a buy earlier but raised the target price to Rs 731 from Rs 678 earlier.
The global investment bank slashed EPS estimates by 1-3%. The core EPS growth remains modest (5% p.a), and the core business trades at ~8.5x 1YF PE (vs. 3.5x in early June).
There could be some re-rating if Sun further steps up the payout. A demerger/listing of the IPL franchise could also unlock value.
CLSA on Jubilant FoodWorks: Sell| Target Rs 502CLSA maintained a sell rating on Jubilant FoodWorks and slightly trimmed the target price to Rs 502 per share from Rs 503 earlier.The global investment bank sees its dominance in pizza being challenged by new competitors. It seems that risks are increasing the fixed costs in a weak demand environment.Jefferies on Honasa Consumer: Buy| Target Rs 530Jefferies maintained a buy rating on Honasa Consumer and raised the target to Rs 530 from Rs 520 earlier.
The company reported a strong Q2 on both the topline and margins. The global investment bank upgrades EPS by 5-6% post Q2 results.
The management remains confident of delivering a 30%+ revenue growth going forward. It expects EBITDA margins to keep improving on a YoY basis.
Motilal Oswal on DLF: Neutral| Target Rs 650Motilal Oswal recommends a neutral rating on DLF with a target price of Rs 650.
DLF reported bookings of INR42.7b in 1HFY24, flat YoY due to the absence of any major launches except for a plotted project in Panipat and luxury floors in the DLF city.
Over the last two years, DLF has generated surplus cash flows of Rs 57 bn, which has been largely utilized to bring down the debt and the DevCo entity has a net cash balance sheet, which is in line with the management’s target.
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