Global View: Glenmark Life, HUL and Gland Pharma could give 20-40% return

Indian market edged higher by nearly 0.50% in the opening trade on Wednesday amid positive global cues. There will be stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook.

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

Glenmark Life: Buy| Target Rs 665

BofA Securities initiated a buy rating on Glenmark Life with a target price of Rs 665 that translates into an upside of over 45 per cent from Rs 457 recorded on 22 March.
 

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The growth drivers are in place for the medium & long-term which is a positive sign. Risk is known and is factored in the price. The risk-to-reward ratio is favourable at current levels.

HUL: Buy| Target Rs 2520

Jefferies maintained a buy rating on HUL with a target price of Rs 2520 which translates into an upside of over 26 per cent from Rs 1993 recorded on 22 March.

Industry interactions indicate that the FMCG market has seen a further slowdown, pointing to flat revenue and a high-single-digit volume decline in Jan-Feb.
 
Raw material inflation and adverse mix would keep margins under pressure in 4Q, said the note.

Gland Pharma: Buy| Target Rs 4578

Jefferies maintained a buy rating on Gland Pharma with a target price of Rs 4578 which translates into an upside of over 40 per cent from Rs 3200 recorded on 22 March.

The management has guided growth visibility in all key markets with 20-25% revenue CAGR in the medium-term which is a positive sign.
 
Margins are expected to be steady with vol growth countering gross margin dilution, it said.

(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.)