Global brokerage BofA Securities maintained its buy rating on and , and JPMorgan initiated coverage on with an underperform rating.
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
BofA Securities on : Buy| Target Rs 2805
BofA Securities maintained a buy rating on Reliance Industries with a target price of Rs 2805. The stock closed at Rs 2596 on 30 August.
The risk-to-reward is favourable at current levels. The focus of the company has shifted more towards capex, and there is limited visibility on value unlocking events, said the note.
BofA Securities on Eicher Motors: Buy| Target Rs 3900
BofA Securities maintained buy rating on Eicher Motors with a target price of Rs 3900. The stock closed at 3285 on 29 August.
Margin concerns are exaggerated, and growth is finally coming back at Royal Enfield, said the note.
JPMorgan on Cholamandalam Investment: Underperform| Target Rs 600
JPMorgan initiated coverage on with an underweight rating and a target price of Rs 600. The stock closed at Rs 786 on 29 August.
The global investment bank expects earnings to disappoint over FY23/24. There is competition from banks that can drive margin compression, said the note.
It believes that markets have ascribed a significant valuation premium to the stock.
(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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