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Motilal Oswal on VRL Logistics: Buy | Target price: Rs 730
Motilal Oswal said that price hikes in the goods business will support margins. The sale of the bus business also augurs well for VRL. It has a buy rating on the stock with a target price of Rs 730.
Investec on Ambuja Cement: Buy | Target price: Rs 752
Investec has initiated a fast buy rating on Ambuja Cement as it expects incremental disclosures on synergy and scale ambitions. “Our forecasts bake in lower synergy quantum, longer time frame on realization of synergies and thereby we have assigned higher multiples with TP of Rs752/share,” it said.
Motilal on IPCA Labs: Buy | Target price: Rs 1,000
Motilal expects IPCA Labs to report a 33% earning CAGR over FY23-25. It said that the pharma company is progressing steadily to reclaim the growth path. API and exports formulation is a work in progress to revive growth. It values IPCA at 24x 12-month forward earnings.
Securities on : Buy | Target price: Rs 11,000
The brokerage has a buy rating on Maruti Suzuki with a one-year price target of Rs 11,000, valuing the stock at a PE multiple of 27.5x FY24E EPS.
Prabhudas Lilladher on : Buy | Target price: Rs 610
Prabhudas Lilladher has cut its FY23/FY24/FY25 EPS estimates on Jubilant Foodworks by 9.0%/9.9%/11.9% on the back of 3-5% lower system average sales/store, 60-70 bps lower EBITDA margins and lower pace of store additions post ~480 store additions over FY 21-23. “We believe 3Q23 demand pressures are transitional, however higher competition requires JUBI to increase innovation and consumer value proposition which will limit pricing actions in the near term,” it said.
(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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