Snapping 7 days falling streak, Indian market started off on a high note amid positive global cues on Thursday. The market will see stock-specific action in which global brokerage came out with their reports on business development, or earnings outlook. 

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

InterGlobe Aviation: Overweight| Target Rs 2759

Morgan Stanley maintained an overweight rating on InterGlobe Aviation with a target price of Rs 2759 that translates into an upside of over 50 per cent from Rs 1831 recorded on 24 February.

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The company’s relative market position, market share, and balance sheet have improved significantly in the downturn.
 
An improved relative position going into an upcycle can help capture the bulk of profits, said the note. Given a strong recovery, the global investment bank expects multiples to revert to pre-Covid levels.

IGL: Overweight| Target Rs 620

Jefferies maintained overweight rating on IGL with a target price of Rs 620 that translates into an upside of more than 85 per cent from Rs 334 recorded on 24 February.

After a 38% underperformance since September 2021, we are seeing buying interest, said the note.

The company has strong pricing power, and the staggered nature of price hikes keeps us comfortable, the note added. Higher crude & headroom in CNG economics keep us comfortable.

Bharat Forge: Overweight| Target Rs 1051

Morgan Stanley maintained an overweight rating on Bharat Forge with a target price of Rs 1051 which translates into an upside of over 57 per cent from Rs 668 recorded on 24 February.

Acquisition of Coimbatore-based JS AutoCAST is a key positive. The deal will be EPS accretive from day 1, as per the company.

The management also aims to double its non-auto rev (37% of 2021), over the next 3 years. This acquisition expands its non-auto portfolio and gives an entry into high-growth renewable space, 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.)