Growth and margin expansion capex is likely to drive earnings growth in future.Leverage and corporate structure are likely to remain in focus.
The global investment bank hikes EBITDA estimates by 4-13% for FY24-26.Antique initiated coverage on Bharti Airtel with a buy rating and a target price of Rs 1505.
The global investment bank sees a big jump in free cash flows.The choice of spectrum/pace of 5G rollout is likely to cause no major impact.
Enterprise and FTTH are significant contributors to growth.Motilal Oswal initiated coverage on Kolte Patil with a buy rating and a target price of Rs 700.
Timely land acquisitions, and Hyderabad entry, imply FY25 can see growth over high base.The global investment bank expects much higher margins as these new projects get executed.
CLSA on Vedanta: Buy| Target Rs 390
Antique on Bharti Airtel: Buy| Target Rs 1505
Motilal Oswal on Kolte Patil: Buy| Target Rs 700
Jefferies on Godrej Properties: Buy| Target Rs 3175
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Brokerage CLSA upgraded Vedanta to a buy, Antique initiated coverage on Bharti Airtel , Motilal Oswal initiated coverage on Kolte Patil and Jefferies maintained a buy rating on Godrej Properties We have collated a list of recommendations from top brokerage firms from ETNow and other sources:CLSA upgraded Vedanta to a buy from reduce earlier and raised the target price to Rs 390 from Rs 260 earlier.Vedanta is a play on the commodity upcycle. Growth and margin expansion capex is likely to drive earnings growth in future.Leverage and corporate structure are likely to remain in focus. The global investment bank hikes EBITDA estimates by 4-13% for FY24-26.Antique initiated coverage on Bharti Airtel with a buy rating and a target price of Rs 1505. A tariff hike is imminent, and Bharti will be the biggest beneficiary.Capex intensity is to fall post the 5G rollout. The global investment bank sees a big jump in free cash flows.The choice of spectrum/pace of 5G rollout is likely to cause no major impact. Africa has a big runway for growth. Enterprise and FTTH are significant contributors to growth.Motilal Oswal initiated coverage on Kolte Patil with a buy rating and a target price of Rs 700. Accelerated BD activity and a healthy balance sheet is likely to sustain growth momentum.Priority launches to sustain the near-term growth momentum. Robust cash flows and a healthy balance sheet to entail intensified BD spending.Profitability is likely to improve with a lag. The global investment bank expects to report a 21% EBITDA CAGR over FY23-26.Jefferies maintained a buy rating on Godrej Properties but raised the target price to Rs 3175 from Rs 2700 earlier.FY24 sales surge; momentum to continue. Timely land acquisitions, and Hyderabad entry, imply FY25 can see growth over high base.The global investment bank expects much higher margins as these new projects get executed.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
