Stocks With Momentum: Citi expects 26% upside on this PSU multibagger; brokerage asks to 'accumulate' this large-cap pharma giant
Stocks of Momentum: Leading indices BSE and NSE had a rousing start to the week on Monday (May 27, 2024) as both opened at their respective record highs on Monday (May 27, 2024). BSE Sensex was up by 201.52 points, while Nifty 50 was trading higher by 40.70 points. As the stock market is in positive territory, leading brokerages such as Morgan Stanley, Jefferies, Citi, and JM Financial have picked a bunch of stocks such as NTPC, Power Grid, Hindalco, Suzlon Energy, Ashok Leyland, Torrent Pharma, etc. Know the brokerage call and target prices on these stocks.
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JM Financial on NTPC
After the PSU reported its fourth-quarter results, JM Financial has given a 'buy' call on the stock. It has given a share price target of Rs 414. Writing about NPTC, the brokerage says that given the sustained growth in regulated equity driven by revival in margin-accretive thermal capex and gradual improvement in execution of renewables, we maintain our BUY rating on the stock with a revised TP of INR 414 valuing the thermal business at 2.7x FY26E Regulated Equity and assigning 12x multiple to FY26E EBITDA to its RE business.
CITI on NTPC (CMP 375)
CITI has maintained a 'buy' rating on the PSU, raising its target to Rs 467 from Rs 407.
JM Financial on Power Grid
After Power Grid Corp reported its January-March quarter results, JM Financial gave it a 'buy' call with a target price of Rs 350. Writing about the company, the brokerage said that given the traction in transmission capex and 65% market share - higher than the earlier guidance of 40%—it maintains a 'buy' rating on the firm with a revised SOTP-based target price of Rs 350, implying a 10% upside.
JM Financial on Hindalco Industries
The metal company also reported its Q4 results. On the back of these results, JM Financial has given a 'buy' stance on the firm with a target price of Rs 750. The brokerage says that Hindalco, given ~70%+ steady/strong EBITDA being non-LME linked, remains its preferred play in the metal space. So, it has given a 'buy' call.
Morgan Stanley on NTPC (CMP 375)
Morgan Stanley has maintained an 'overweight' rating on the PSU stock with a target price of Rs 390.
JM Financial on Suzlon Energy
After the energy firm reported its fourth-quarter results, the brokerage has given a 'buy' call on the firm with a target price of Rs 54. The brokerage says with a healthy order book and more-healthy bid pipeline, strengthening of the balance sheet and the organisation, amidst the execution challenges for step-up in annual capacity addition beyond 5GW, it maintains a 'buy' rating on the stock with an unchanged TP of Rs 54 (based on a 30x FY26E EPS).
Jefferies on Hindalco Industries Ltd (CMP 673)
Jefferies has maintained a 'buy' call on Hindalco, raising its target to Rs 825 from Rs 810.
JM Financial on Ashok Leyland
The brokerage has given a 'buy' rating on the firm with a target price of Rs 275.
Jefferies on Ashok Leyland Ltd (CMP 211)
Jefferies has maintained a 'hold' call on the automaker, raising its target to Rs 205 from Rs 190.
CLSA on Torrent Pharmaceuticals Ltd (CMP 2613)
CLSA has maintained an 'accumulate' rating on this pharma giant, raising its target to Rs 2,970 from Rs 2,800.