Indian markets bounced back sharply on Wednesday tracking positive global cues, and the trend could well continue on Thursday. The S&P BSE Sensex is back above 58000, while the Nifty50 closed above 17450.

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The market is likely to edge higher on Thursday, and there will be stock-specific action in which global brokerage firms tweaked their rating.

We have collated a list of recommendations from various global brokerage firms according to a Zee Business TV report:

United Breweries: Overweight

JPMorgan initiated coverage on United Breweries with an overweight rating and a target of Rs 1820 that translates into an upside of over 17 per cent from Rs 1551 recorded on 8 December.

The company is a re-opening play and has an impressive market share, which augers well for the stock in the long term. Premiumization thrust is likely to increase.

Margin expansion was led by operating leverage, mix, and cost savings. It is on course to an accelerated earnings CAGR of 21% over FY20-24E.

Ashok Leyland: Upgrade to buy

CLSA upgraded Ashok Leyland to buy from outperform earlier and also raised its target price from Rs 145 to Rs 153 that translates into an upside of over 21 per cent from Rs 126 recorded on 8 December.

The company is at the tipping point for a CV recovery upgrade. CV upcycle is likely to sustain over the next few years.
 
Domestic Light Commercial Vehicle (LCV) demand is likely to recover. EBITDA is likely to increase by 3.25x over FY22-24, said the note.

Aditya Birla Fashion & Retail: Buy

CLSA maintained its buy rating on Aditya Birla Fashion with a target price of Rs 325 that translates into an upside of over 19 per cent from Rs 273 recorded on 8 December.

Lifestyle as a segment is seeing faster recovery which auger well. Pantaloons' margin profile is likely to expand.
 
Ethnic wear prospects are sound and there is a thrust to attain leadership. Strategic actions initiated in the past seem to be fructifying well, said the note.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)