Top 7 Stocks for Long-term: HSBC double downgrades this multiplex chain; 31% target raised for tech giant; know other brokerage views
Top 7 Stocks For Long-term: Share market opened in green on Wednesday (May 15, 2024), but closed in red. BSE Sensex closed lower by 0.16 per cent, or 117.58 points, at 72,987.03 points. Nifty 50, on the other hand, closed trading down by 17.30 points at 22,200.55. It is yet to be seen if the market recovers on Thursday morning or continues its slump. Amid such market situations, brokerages such as HSBC, UBS, Morgan Stanley, CLSA, and Centrum picked stocks such as Jindal Steel and Power, PVR, Bharti Airtel, Siemens, Gujarat Fluoro, and Shree Cements.
Here are the calls and target prices that the brokerages have given to these stocks.
Photos: Unsplash/Pixabay
Centrum on Jindal Steel and Power (CMP Rs 939)
Centrum has given a 'buy' call to the Jindal group company with a target price of Rs 1,212, an upside of 29.07%.
Centrum on Bajaj Electricals (CMP Rs 949)
The brokerage has suggested 'adding' this Bajaj group stock with a target price of Rs 1,005, a 6% forecast return.
HSBC on PVR Inox
HSBC double downgraded the multiplex chain to 'hold', cutting the target price to Rs 1,520. PVR reported its weakest quarter of FY24, which is below Zee Business research consensus. The brokerage says that a subdued occupancy rate weighed on its margin.
Jefferies on Siemens (CMP Rs 6,660)
Jefferies has maintained a 'buy' call on the tech giant, raising its target price to Rs 8,000 from Rs 5,575.
Morgan Stanley on Bharti Airtel
The brokerage has given an 'overweight' call on the telecom operator giant with a target price of Rs 1,330. The brokerage's call came after Bharti Airtel reported a 31% dip in its profit in its Q4 FY2324 results. However, Bharti Airtel reported a positive ARPU for the fourth quarter.
UBS on Gujarat Fluoro (CMP Rs 3,254)
UBS has initiated its coverage on Gujarat Fluoro with a 'sell' call. It has given a target of Rs 3,000.
Jefferies on Bharti Airtel
Jefferies has given a 'buy' call on Bharti Airtel, raising its target to Rs 1,590 from 1,300.
CLSA on Bharti Airtel (CMP 1284)
CLSA has also maintained a 'buy' call on the telecom giant, raising its target to Rs 1,540 from Rs 1,370.
UBS on Bharti Airtel
UBS has a 'neutral' stance on Bharti Airtel with a target price of Rs 1,310.
Jefferies on Shree Cement
Jefferies has a 'hold' call on Shree Cements with a target of Rs 29,500.