Hot Stocks: Brokerage view on Medanta, PB Fintech, JK Cement and Bandhan Bank

Global brokerage firm Jefferies initiated a buy rating on Medanta (Global Health), Nuvama initiated a buy rating on PB Fintech, Citigroup retained its sell rating on JK Cement and Goldman Sachs has a neutral rating on Bandhan Bank.

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

Jefferies on Medanta (Global Health): Buy | Target Rs 550
Jefferies initiated a buy rating on Medanta (Global Health) with a buy rating and a target price of Rs 550. Medanta is a top-notch healthcare provider with strong brand equity, the brokerage said.

The company has a strong positioning in North India along with expansion and the trends suggest that Medanta will close the valuation gap with peers soon, it added.

Valuation re-rating lead by EBITDA growth and ROCE trajectory, said the note.

Nuvama on PB Fintech (Policy Bazaar): Buy | Target Rs 550
Nuvama initiated coverage on PB Fintech with a buy rating with a target of Rs 550. Policybazaar has carved out a niche for itself in the exciting online financial product space, Nuvama said.

Profitability riders include Renewals, efficiency, and scale, it added. The domestic brokerage firm believes that the company would break even on adjusted EBITDA in FY24E and would be PBT-positive in FY25E.

Citi on JK Cement: Sell | Target Rs 2,400
Citigroup maintained a sell rating on JK Cement with a target price of Rs 2400. Recently, JK Cement bought a controlling stake in Acro Paints.

The brokerage said that the investment is largely in-line with JK Cement's plan. “Acro's current utilization and margins are low, and the Paint market is attractive,” said the note.

Goldman Sachs on Bandhan Bank: Neutral | Target Rs 297
Goldman Sachs maintained a neutral rating with a target price of Rs 297. Sale of the written-down portfolio, a positive surprise, the investment bank said.

The proposed sale is one of the largest asset sale deals being done, it added.

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