Hot Stocks: Global brokerages on Britannia, TVS Motor, Gland Pharma, HEG and Graphite India

Global brokerage firm JPMorgan maintained neutral ratings on Britannia Industries; Jefferies retained buy on TVS Motor Company, recommended a buy on HEG and Graphite India; and BofA Securities maintained buy on Gland Pharma.

We have collated a list of recommendations from top global brokerage firms from ETNow:

JPMorgan on Britannia Industries: Neutral | Target Rs 3,930
JPMorgan maintained its neutral rating on Britannia Industries with a target price of Rs 3,930. The stock closed at Rs 3,692 on 18 August.

The global investment bank revised FY23/24E EPS downwards by 4/2 per cent. Gross margin bottomed out in Q1FY23.

The company expanded its product portfolio (wafers, croissants, cakes, biscuit variants) which is a positive sign.

Jefferies on TVS Motor: Buy | Target Rs 1,450
Jefferies maintained buy rating on TVS Motor Company with a target price of Rs 1,450. The stock closed at Rs 973 on 18 August.

TVS Motor is narrowing the gap with peers and increasing its EBITDA share. The Avg EBITDA/vehicle at Rs 2.3K in FY10-17 which was 71 per cent below the average.

EBITDA share in its peer group is up from ~6 per cent in FY17 to ~13 per cent in FY22. TVS is the third player in E2Ws in August.

BofA Securities on Gland Pharma: Buy | Target Rs 3,200
BofA Securities maintains a buy rating on Gland Pharma with a target of Rs 3,200. The stock closed at Rs 2,399 on 18 August.

Export data is showing signs of recovery. Normalised run-rate is likely in H2FY23. The export print is showing an improving trend.

Jefferies on HEG and Graphite India: Buy
Jefferies maintains buy on both HEG and Graphite India with a target price of Rs 1,760 and Rs 530, respectively.

Electrode prices rose yet again in Q1FY23, and the energy cost in Europe remains higher. The European impact could moderate in the near-term demand.

The global investment bank slashed FY24-25e EPS by 4-7 per cent.

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