BEL, BHEL, L&T, Siemens, Thermax, Cummins India: Macquarie bullish on industrial stocks—check out target prices

Industrial stocks: Global brokerage Macquarie remains bullish on domestic industrial companies with Bharat Electronics (BEL) and Cummins India as its top picks in its latest released report as India looks set for a multi-year capex upcycle with multiple themes at play, as per the brokerage.

According to analysts at the brokerage, several themes are still at early/mid-cycle and often feed into each other, which think should ensure resilience & longevity. Tailwinds have started to bolster order backlogs, the brokerage added in its report.

Industrial stocks to buy, sell, or hold: Check out target prices of BEL, L&T, ABB India, Siemens, BHEL, Cummins, Thermax, and Carborundum Universal

BEL share price target

Macquarie has initiated coverage on BEL with an outperform call. The brokerag has set Navratna PSU's target price at Rs 280 .

L&T share price target

The brokerage has reinstated an outperform rating on Larsen & Toubro with a target price of Rs 4,400.

ABB India share price target

The brokerage has reinstated an outperform call on the ABB India stock with a target price of Rs 6,550.

Siemens share price target

The brokerage has reinstated a neutral call on the technology company with a target price of Rs 5,575.

BHEL share price target

Macquarie has reinstated an underperform rating with a target of Rs 200 on engineering and manufacturing entity, BHEL.

Cummins India share price target

The brokerage has reinstated an outperform call on Cummins India with a target price of Rs 3,600. The target implies an 17.59 per cent upside from previous close. 

Thermax share price target

Macquarie has reinstated an underperform rating on Thermax with a target Of Rs 3,550.

Carborundum Universal share price target

The brokerage has initiated coverage on the counter with an outperform rating with a target of Rs 1,500.

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