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Business News Desk,There is a lot of turmoil in the market at present due to the US Presidential elections. Both domestic equity benchmark indices BSE Sensex and Nifty 50 reached the green zone. However, the quarterly results of some companies came in such a way that not only the overall market sentiment was being affected but the brokerages had also reduced the target prices. Here are some such stocks on which brokerages are giving trends and their target prices are also being given.
Titan
Morgan Stanley has given equal-weight rating to Titan with a target price of Rs 3532. According to the brokerage, revenue growth was strong but the result was surprised by the decline in margins compared to expectations. However, the second half of FY 2025 is expected to be strong. Another brokerage Jefferies has given it a hold rating with a target price of Rs 3400. The brokerage says that its margins took a hit due to custom duty and the overall September quarter was sluggish but support is being received from the management’s positive trend regarding demand.
Berger Paints
Brokerage firm Nomura has given reduce rating to Berger Paints with a target price of Rs 500. The brokerage has shown this trend due to a weak September quarter as well as volume and sales growth that were lower than expected. Whereas Morgan Stanley has given it an underweight call at the target price of Rs 466. Revenue and margins in the September quarter were below expectations and EBITDA margin came in at the lower end of management’s target. Now looking ahead, the management believes that revenue growth may improve in the second half of financial year 2025.
GAIL
Morgan Stanley has given overweight call on GAIL with a target price of Rs 258. The brokerage says that its business is continuously growing so it may have to be re-rated. At the same time, Jefferies has upgraded its rating to buy at a target price of Rs 240. On an annual basis, its EBITDA grew 7 percent in the September quarter but was below expectations. The new pipeline will increase its market dominance. Jefferies believes that its EBITDA will grow at a compound annual growth rate (CAGR) of 9 percent in financial years 2024-27. If the shares are 20 percent below the record high, then there is a great investment opportunity.
Manappuram Finance
Morgan Stanley has given equal-weight rating to Manappuram Finance with a target price of Rs 170. The brokerage has raised FY2025 EPS estimates by 7 per cent on September quarter results and cheap valuations. However, due to slow loan growth, the EPS estimate for the financial year 2026-27 has been reduced by 1-2 percent. The brokerage believes that it may take time to make a comeback due to RBI restrictions on its subsidiary Think Investor Interest.
PB Fintech
Morgan Stanley has given equal-weight call on PB Fintech with a target price of Rs 1375. Its revenue growth and adjusted EBITDA were much better than expected. Its adjusted EBITDA margin remained stable on a quarterly basis. Although its valuation is expensive, good revenue growth may support it in the near term.
ABB
Nomura has given call rating to ABB with a target price of Rs 7570. However, Nomura also says that one should be cautious in the short term but has adopted a bullish stance in the long term. The brokerage has cut its EPS estimates by 4 per cent for calendar year 2024, 7 per cent for FY 2025 and 7 per cent for FY 2026 due to lower than expected execution rate.
Dr Reddy’s
Brokerage firm Jefferies has given a call rating to Dr Reddy’s with a target price of Rs 1130. The September quarter for Dr Reddy’s was not as expected due to higher R&D spend and weak product mix. Even in America, business remained sluggish on a quarterly basis, but Indian business recovered by 9 percent. The brokerage says that the acquisition of Nicotineel OTC Brands has been completed and now its results will gradually start becoming visible. However, due to the absence of any important product launch in the US market and increase in Selling, General and Administrative (SG&A), no significant catalyst is visible in the near term.
