We have put together a list of recommendations from the best global ETNow brokerage firms:
JPMorgan on: Overweight| Target Rs 5600
JPMorgan maintained its overweight rating on Info Edge with a target price of Rs 5,600, which translates to an increase of more than 26% from Rs 4,431 recorded on August 12.
Basic billings remain strong. Naukri remains the star, with 99 acres of investment to pursue. The global investment bank grew overall revenue by 6%/7%/7% in fiscal year 23/24/25.
CLSA on Muthoot Finance: Underperformance | Objective Rs 1200
CLSA maintained the underperforming rating on Muthoot Finance with a target price of Rs 1200, which translates to a marginal upside of more than 1% from Rs 1187 recorded on August 12.
The gold loan portfolio contracted while teaser loans were halted to take advantage of next quarter returns, the brokerage said. The spending rate remains high.
CLSA on Zee Entertainment: Buy| Target Rs 316
CLSA maintained its Buy rating on Zee Entertainment with a target price of Rs 316, which translates to an increase of more than 30% from Rs 241 recorded on August 12.
“The first quarter was impacted by a weak advertising environment. However, FY23 first quarter advertising revenue was up 6% year-on-year. The global investment bank cut its FY23 guidance /25CL from 2% to 12%,” he said.
We view the closing of the merger as a stock market catalyst, the note said.
(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)