Hot Stocks: Brokerages on Syngene, Home First Finance and Devyani International

Brokerage CLSA maintained a buy rating on Syngene International while Motilal Oswal initiated coverage on Home First Finance with a buy call. Furthermore, Sharekhan initiated a buy on Devyani International.

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

CLSA on Syngene International: Buy| Target Rs 750
CLSA maintained a buy rating on Syngene International with a target price of Rs 750. The global investment bank expects the company's earnings to double over 3 years which makes it a double bagger.

"The company added capabilities over the years. The Zoetis deal could be the inflection point. Capex benefits are likely from FY24," said the note.

Motilal Oswal on Home First Finance: Buy| Target Rs 1020
Motilal Oswal initiated coverage on Home First Finance with a buy rating and a target price of Rs 1020. The company is gradually normalizing its asset quality which is a positive sign.

The global investment bank estimates a return on assets (RoA) of ~3.8-3.9 per cent over FY23-FY25, which translates into a return on equity (RoE) of ~16 per cent in FY25, said the note.

Sharekhan on Devyani International: Buy| Target Rs 231
Sharekhan initiated coverage on Devyani International with a buy rating and a target price of Rs 231.

It trades at 28.3x/20.6x in its FY2023E/24E EV/EBITDA, said Sharekhan. Riding on strong brand equity and a wide presence, the company hopes to outpace the industry in the medium to long run, it added.

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