Indian market opened higher on Wednesday amid positive global cues, and there will be 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:

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Prestige Estates: Buy| Target Rs 595

CLSA maintained a buy rating on Prestige Estates with a target price of Rs 595 which translates into an upside of over 20 per cent from Rs 493 recorded on 29 March.

The company is aiming to sustain over Rs100bn+ in sales which is a positive sign.

The global investment bank like the company due to its sharp and sustainable ramp-up in pre-sales, strong rental portfolio build-up, and healthy balance sheet.

Despite being among the top 3 developers, Prestige Estates trades at a significant disc to its peers, said the note.

Star Health: Buy| Target Rs 830

CLSA initiates a buy rating on Star Health with a target price of Rs 830 which translates into an upside of over 20 per cent from Rs 688 recorded on March 29, 2022.

The company has a 32 per cent market share in the retail segment. Retail premiums are 3x larger than the next player which is a key positive.

The global investment bank expects a 23 per cent CAGR in premiums in the next five years. Star Health has innovative products, wide distribution, hospital network.

CLSA sees 29 per cent CAGR growth in premiums over the next 2 years and returns on equity (ROE) expansion.

ONGC: Overweight| Target Rs 263

Morgan Stanley maintained an overweight rating on ONGC with a target price of Rs 263 which translates into an upside of over 50 per cent from Rs 171 recorded on March 29, 2022.

The government has offered a 1.5 per cent stake via OFS (Offer-For-Sale), and the floor price is at a 7 per cent discount from the last close.

The global investment bank sees earnings upside with upcoming gas price hikes and tight supplies in the oil & gas market, said the note.

ONGC is currently pricing in oil at $60/bbl & gas realizations at $4.1/mmbtu.

(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.)