Brokerage firm BofA Securities maintained a neutral stance on , Macquarie has an outperform rating on , and maintained a buy call on The .
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
BofA on Fintech: Policy Bazaar and Paytm
BofA Securities maintained its neutral stance on Paytm. It has disbursed Rs 3,665 crore ($443 million) worth of loans in the month of December.
Consumer engagement is at its highest on Paytm Super App with average monthly transacting users (MTU) at 85 million for the quarter ended December 2022, up 32% YoY.
The Reserve Bank of India (RBI) gave its approval to appoint veteran banker Surinder Chawla as its Managing Director and CEO.
The global investment bank sees room to surprise with lower losses. Paytm and
to show good focus on cost control, it said.
It expects Paytm’s adjusted EBITDA losses to reduce to Rs 100 crore. Maintain Neutral rating on Paytm on balanced risk-reward, the global brokerage firm added.
PB Fintech to another good quarter with good growth and lower losses, it said.
Macquarie on Company: Outperform| Target Rs 3250
Macquarie maintained an outperform rating on Titan Company with a target price of Rs 3250. The company reported a healthy growth in jewellery, and watches in Q3.
Weaker-than-expected store additions were key takeaways. The global investment bank raises FY23/24/25E EPS by 2% each to factor sales strength.
The pre-3Q update reaffirms the resilience of Titan’s consumer demand, said the note.
ICICI Securities on Phoenix Mills: Buy| Target Rs 1419
ICICI Securities maintained its buy rating on Phoenix Mills with a target of Rs 1419. The Phoenix Mills (PHNX) saw Dec’22 like-to-like (LTL) consumption across malls at Rs8.2bn or 108% of Dec’19 levels.
We retain our BUY rating with an unchanged target price of Rs1,648/share which factors in the new Surat mall and retain our 20% premium to Mar’23E NAV of Rs1,374/share considering opportunities from office capex and new malls.
Key risks are fresh Covid waves impacting consumption and fall in mall occupancies and rentals, said the brokerage firm.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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