Global View: Hindustan Unilever, Cipla, Infosys and JSW Steel shares can give 12-35% return – know what brokerages say
Indian markets on Monday made a gap-down opening as Nifty opened below 16550 levels and Sensex slipped over 100 points. Whereas Nifty Midcap 100 also declined by 0.1 per cent at open.
Indian markets on Monday made a gap-down opening as Nifty opened below 16550 levels and Sensex slipped over 100 points. Whereas Nifty Midcap 100 also declined by 0.1 per cent at open.
Investors may see a stock-specific action in HUL, Reliance Industries, Cipla, Infosys, and JSW Steel in which global brokerages came out with their reports on business development, or earnings outlook.
Hindustan Unilever Limited (HUL) – Upside of 12%
Global brokerage firm CLSA maintained an Outperform rating with a target price of Rs 2575 apiece, even Credit Suisse also maintained an Outperform stance for a target of Rs 2550 apiece, and Nomura recommended to Buy for a target of Rs 2575 per share. The stock on Friday closed at Rs 2292 apiece.
CLSA on HUL said that the thrust on enhancing structural prospects and business model and strategic execution to aid in a long-term, near-term headwind of the price.
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Reliance Industries – Upside of 17%
Morgan Stanley with an Overweight rating set the target price to Rs 3253 apiece, and Nomura with a Neutral rating see the stock price growing marginally to Rs 2850 per share. The stock on Friday closed at Rs 2779 per share. While Credit Suisse gave a target price of Rs 2510 apiece lower than the market price with a Neutral rating.
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Cipla – Upside of 24%
CITI and Nomura maintained a Buy rating with a target price of Rs 1170 and Rs 1195 per share, while Credit Suisse sees the stock growing to Rs 1100 per share, by maintaining Outperform rating. The stock on Friday closed at Rs 961 per share.
CITI in its report said that the generic teriparatide can be a good product, pipeline visibility keeps improving and this can be a mid-sized generic opportunity with a potential of 3-5% impact on EPS.
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Infosys – Upside of 35%
Jefferies maintained a Buy rating with a revised target of Rs 1830 from Rs 2050 per share, while JP Morgan and Credit Suisse with an Overweight stance see stock growing to Rs 1850 and Rs 2050 apiece, respectively. The counter on Friday closed at Rs 1521 per share.
Jefferies in its note said that the company is well-positioned to deliver 11/15 per cent CAGR in revenue/EPS respectively over FY23-25 and multiple levers for growth to remain strong.
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JSW Steel
Nomura maintained a Reduce stance with a target price of Rs 500 per share and Credit Suisse sees stock price reduced to Rs 425 per share with an Underperform rating. The share price of JSW Steel on Friday closed at Rs 562 per share.
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