Hot Stocks: Brokerages on Bharat Forge and Sun Pharma; JPMorgan see 28% upside in PNB

Global brokerage JPMorgan upgraded Punjab National Bank (PNB) to overweight, while BofA Securities maintained its buy rating on Sun Pharma, and JPMorgan maintained its neutral stance on Bharat Forge.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

JPMorgan on PNB: Overweight | Target Rs 72 | LTP Rs 56| Upside: 28%
JPMorgan upgraded PNB to Overweight from Underweight earlier with a target of Rs 72. Capital and liquidity conditionals are reasonably comfortable.

The stock has seen a re-rating led by outperformance, said the note.

BofA Securities on Sun Pharma: Buy | Target: Rs 1000 | LTP: Rs 992| Upside: 1%
BofA Securities maintained its buy rating on Sun Pharma with a target of Rs 1,000. Flattish llumya trend and the company is waiting for Winlevi Rx to pick up. Sun Pharma's global specialty revenue growth was 30% in H1FY23, this was largely aided by llumya ramp-up. Regulatory overhang continues.

JPMorgan on Bharat Forge: Buy| Target Rs 865 | LTP Rs 856 | Upside 1%
JPMorgan maintained a buy on Bharat Forge with a target of Rs 865. Vision 2030 outlines strong growth plans across verticals. The management expects Defence orders from the Indian Army as well as exports.

E-mobility product offerings to encompass all segments from 2Ws/3Ws. Industrial castings showing strong growth runway from JS Autocast. “Aerospace division to see vertical integration,” said the note.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)