Indian market opened lower on Friday amid weak global cues as benchmarks decined half per cent in the opening trade, but 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:

Symphony: Buy| Target Rs 1400

Goldman Sachs initiated a buy rating on Symphony with a target price of Rs 1400 that translates into an upside of over 43 per cent from Rs 977 recorded on 10 March.
 

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Symphony is a beneficiary of the growing evaporative cooling market. Global temperature is rising and an increased focus on ESG supports a bullish view.

The global investment bank expects strong growth in Symphony’s industrial air-cooling business. The traditional room air cooler segment continues to grow (22% rev. CAGR) which is a positive sign.

Colgate Palmolive India: Buy| Target Rs 1700

Nomura maintained a buy rating on Colgate Palmolive India with a target price of Rs 1700 that translates into an upside of over 13 per cent from Rs 1497 recorded on 10 March.
 
Ms. Prabha Narasimhan appointed as new MD & CEO First top management from outside – inducting fresh perspective.
 
While new appointments would drive up expectations, but the global investment bank remains cautious on medium-term growth prospects.

InterGlobe Aviation: Outperform| Target Rs 2500

Credit Suisse maintained an outperform rating on InterGlobe Aviation with a target price of Rs 2500 that translates into an upside of nearly 40 per cent from Rs 1789 recorded on 10 March.

Pricing power seems seasonal, and Indigo is vulnerable to higher crude prices.
 
“Would need 10-12% price increase to maintain spread. Maintain outperform on fortress positioning,” said the note.  
Structural cash flows an opportunity (15% CAGR in FY21-30E) for long-term investors. The company is likely to command a strong pricing power in Q1 & Q2.

Thermax: Buy| Target Rs 2575

Jefferies maintained buy rating on Thermax with a target price of Rs 2575 which translates into an upside of over 35 per cent from Rs 2575 recorded on 10 March.

The global investment bank believes that the business model change points to strong earnings recovery although thermal captive power is unlikely to grow as it is being under-appreciated.

Going forward, 38% EPS CAGR in FY21-25E and 19% ROE vs 8% should drive upside from current levels, said the note.
 
Over 70% of orders are driven by green offerings and higher-margin products and services form 50-55% of revenue vs 39% in FY18.
 
(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)