Hot Stocks: Brokerage view on SBI, JK Cement, Coal India, Tata Motors and Policybazaar

Brokerage firm BofA Securities maintained a buy rating on SBI, Jefferies downgraded JK Cement to Hold, JPMorgan remained overweight on Coal India, CLSA has a buy rating on Tata Motors and Citi maintained a buy rating on Policybazaar.

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

BofA Securities on SBI: Buy| Target Rs 1030
BofA Securities maintained a buy rating on SBI with a target price of Rs 1030. The spending outlook remains strong. Travel spending remains healthy with overseas spending yet to fully normalize.

Some moderation was seen in fuel, departmental store, and grocery spending post Rs 2,000 notes withdrawal by the Reserve Bank of India (RBI).

The focus remains on maintaining and improving retail spending market share.

Credit costs are likely to stay elevated in Q1 with continued clean-up of vulnerable vintage accounts. Credit card integration with UPI should act as a further growth acceleration.

Jefferies on JK Cement: Hold| Target Rs 3260
Jefferies downgraded JK Cement to Hold with a target price of Rs 3260. Volume growth is likely to be driven by the new central capacity.

Strong growth prospects, but valuations are not so compelling now. The energy cost will ease for the next few quarters.

JPMorgan on Coal India: Overweight| Target Rs 290
JPMorgan maintained an overweight rating on Coal India with a target price of Rs 290. Coal price hike of 8% is likely to offset large wage hikes.

The global investment bank expects Coal India's outperformance to continue. If e-auction prices were to collapse from here, we would expect another round of FSA price hikes, with an increase in the lower grades of coal.

The price hike is only on the higher grades of coal of G2-G10 and not on power sector coals (G11-G17).

CLSA on Tata Motors: Buy| Target Rs 624
CLSA maintained a buy rating on Tata Motors with a target price of Rs 624. The company has recorded a good start to the year.

Strong growth in America and China in April is likely to offset any decline in the European region.

Tata Motors is on track for a strong year in FY24 if Europe plays out well. Higher volume and richer mix to aid margin improvement and FCF generation.

Citi on PB Fintech: Buy| Target Rs 820
Citigroup maintained a buy rating on PB Fintech or Policybazaar with a target price of Rs 820. The upbeat stance on growth was retained.

Higher conversion rates are supported by effective execution of the offline strategy.

Improving analytics-based engines to drive higher quality of business origination.

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