Brokerage firms like Nomura have maintained a buy rating on Marico, while JP Morgan has retained its neutral view on CONCOR. Meanwhile, UBS has buy ratings on both Maruti and Cipla.
We have collated a list of recommendations from top brokerage firms from ET Now and other sources:
Nomura on Marico: Buy | Target price: Rs 760
Nomura has maintained a buy rating on Marico and has cut the target price to Rs 760 from Rs 780.
The firm described Marico’s results as a silver lining amidst a gloomy quarter, noting that demand improved and there was no impact from weakness in urban areas, as the company caters to both premium and mass markets. Sharp price hikes have improved the growth outlook. The Foods, Premium Personal Care, and Digital brands showed a healthy growth trajectory.
UBS on Maruti: Buy | Target price: Rs 14,800
UBS has maintained a buy rating on Maruti while cutting the target price to Rs 14,800 from Rs 15,200.
Although Q2 results were a miss, the outlook on demand and margins has improved. The situation is not as bad as initially feared, leading UBS to retain the buy rating based on attractive valuations. Q2 FY25 gross margin contraction weighed on EBITDA; however, the adjusted PAT was above estimates. Festive demand appears strong, with inventories and discounts under control.
JPMorgan on CONCOR: Neutral | Target price: Rs 1,000
JPMorgan maintained a neutral call on Container Corporation with a target price of Rs 1,000. Growth remained sluggish in Q2, but costs surprised positively. A moderation in railway charges, staff costs, and land license fees in Q2 helped boost margins despite the soft uptick in revenues. Clarity on costs will also be important, as railway charges have been rising in recent quarters. Overall volume growth of 6% YoY remained below the full-year guidance.
UBS on Cipla: Buy | Target price: Rs 1,960
UBS maintained a buy rating on the stock and reduced the target price to Rs 1,960 from Rs 2,060.
Q2 results were in line, but growth in India was weak. The shortage of lanreotide is expected to impact near-term performance. Timelines for the gAdvair launch have been maintained, but the launch of Abraxane is dependent on clearance from Goa. Consequently, UBS has cut its FY26 and FY27 EPS estimates by 4% and 7%, respectively.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
We have collated a list of recommendations from top brokerage firms from ET Now and other sources:
Nomura on Marico: Buy | Target price: Rs 760
Nomura has maintained a buy rating on Marico and has cut the target price to Rs 760 from Rs 780.
The firm described Marico’s results as a silver lining amidst a gloomy quarter, noting that demand improved and there was no impact from weakness in urban areas, as the company caters to both premium and mass markets. Sharp price hikes have improved the growth outlook. The Foods, Premium Personal Care, and Digital brands showed a healthy growth trajectory.
UBS on Maruti: Buy | Target price: Rs 14,800
UBS has maintained a buy rating on Maruti while cutting the target price to Rs 14,800 from Rs 15,200.
Although Q2 results were a miss, the outlook on demand and margins has improved. The situation is not as bad as initially feared, leading UBS to retain the buy rating based on attractive valuations. Q2 FY25 gross margin contraction weighed on EBITDA; however, the adjusted PAT was above estimates. Festive demand appears strong, with inventories and discounts under control.
JPMorgan on CONCOR: Neutral | Target price: Rs 1,000
JPMorgan maintained a neutral call on Container Corporation with a target price of Rs 1,000. Growth remained sluggish in Q2, but costs surprised positively. A moderation in railway charges, staff costs, and land license fees in Q2 helped boost margins despite the soft uptick in revenues. Clarity on costs will also be important, as railway charges have been rising in recent quarters. Overall volume growth of 6% YoY remained below the full-year guidance.
UBS on Cipla: Buy | Target price: Rs 1,960
UBS maintained a buy rating on the stock and reduced the target price to Rs 1,960 from Rs 2,060.
Q2 results were in line, but growth in India was weak. The shortage of lanreotide is expected to impact near-term performance. Timelines for the gAdvair launch have been maintained, but the launch of Abraxane is dependent on clearance from Goa. Consequently, UBS has cut its FY26 and FY27 EPS estimates by 4% and 7%, respectively.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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