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    Hot Stocks: Global brokerages on LIC Housing, Medplus Health, Paytm, Varun Beverages and Tata Steel post Q3

    Synopsis

    JPMorgan maintained an overweight rating on Tata Steel with a target price of Rs 140. “Large PAT loss was driven by inventory NRV hit in Europe,” JPMorgan said.

    Hot Stocks: Global brokerages on LIC Housing, Medplus Health, Paytm, Varun Beverages and Tata Steel post Q3Agencies
    Global brokerage firm Morgan Stanley maintained an underweight rating on LIC Housing Finance, Credit Suisse has an outperform rating on Medplus Health, JPMorgan maintained an overweight rating on Paytm and an overweight stance on Tata Steel, and BofA Securities retained a buy call on Varun Beverages.

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

    Morgan Stanley on LIC Housing: Underweight | Target Rs 320

    Morgan Stanley maintained an underweight rating on LIC Housing with a target price of Rs 320

    According to the brokerage, Q3 was a weak quarter with 55% miss on PAT and higher operating costs caused the 17% PPOP miss.

    “Slower improvement in loan spreads caused the 12% NII miss,” said the note.

    Credit Suisse on Medplus Health: Outperform| Target Rs 750

    Credit Suisse maintained an outperform rating on Medplus Health Services with a target of Rs 750. “Gross margin resilience was driven by private labels,” the brokerage said.

    “Q3 leads to 24%/5% increase in FY23E/FY24E EPS,” it added.

    JPMorgan on Paytm: Overweight| Target Rs 950

    JPMorgan maintained an overweight rating on Paytm with a target price of Rs 950.

    “Incremental profitability gives a peek on forward numbers. Financial services scale-up remains on track,” said JPMorgan. The global investment bank upgraded profits, but moderated GMV growth assumptions.

    BofA Securities on Varun Beverages: Buy| Target Rs 1530

    BofA Securities maintained a buy rating on Varun Beverages with a target price of Rs 1530. “Q422 results keep their fizz, and the trend suggests that there is more to come in 2023,” said BofA Securities.

    “Results were ahead of expectations and the company is set for a 34% profit CAGR through 2025E. Newly acquired territories perform well to lead growth. The current valuation offers room to re-rate,” it added.

    JPMorgan on Tata Steel: Overweight| Target Rs 140

    JPMorgan maintained an overweight rating on Tata Steel with a target price of Rs 140. “Large PAT loss was driven by inventory NRV hit in Europe,” JPMorgan said.

    “Key negative was a sharp decline in Europe EBITDA/Ton, and steel prices in India have increased by 10% from Dec exit levels,” it added.

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



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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