Brokerage houses have shared their latest insights and price targets for several stocks across industries. Here is a summary of the reports released today, Dec 9, 2024:
Ceat
- Brokerage House: Investec
- Rating: Buy
- Target Price: ₹3750
- Upside: 21.52%
Investec remains positive on Ceat following its acquisition of Camso’s off-highway construction equipment bias tyre and track business. The move is seen as a step towards strengthening the specialty tyre segment.
Sun Pharma
- Brokerage House: Jefferies
- Rating: Buy
- Target Price: ₹2150
- Upside: 19.22%
Jefferies analyzed Sun Pharma’s specialty assets for cancer treatment, projecting $100 million in peak sales post-revenue sharing with Philogen. The company is expected to use its existing infrastructure for commercialization without significant cost implications.
Godrej Consumer Products (GCPL)
- Brokerage House: JPM
- Rating: Overweight
- Target Price: ₹1410
- Upside: 14.57%
JPM highlighted GCPL’s Q3FY25 outlook, with flat volume growth in Soaps and Household Insecticides segments. However, the rest of the portfolio continues to deliver double-digit volume growth, with price hikes supporting revenue growth.
NHPC
- Brokerage House: CLSA
- Rating: Outperform
- Target Price: ₹120
- Upside: 41.51%
CLSA sees NHPC as a beneficiary of green growth, supported by the FY24-29 regulatory framework. The Lower Subansiri Hydro Project, contributing 1.5GW by FY25, is expected to support renewable energy expansion.
Reliance Industries (RIL)
- Brokerage House: MOSL
- Rating: Buy
- Target Price: ₹1580
- Upside: 20.46%
MOSL’s report highlights RIL’s growth potential driven by tariff hikes in Jio, refining margin recovery, and renewable energy expansion. The brokerage expects free cash flow generation to improve.
Tata Power
- Brokerage House: MOSL
- Rating: Buy
- Target Price: ₹509
- Upside: 15.96%
MOSL shared insights from Tata Power’s analyst day, where the company projected a doubling of EBITDA and PAT by FY30. Renewables are expected to contribute 50% of PAT by FY30, with a significant capex of ₹1,460 billion planned over the next five years.
Lloyd Metals
- Brokerage House: INCRED
- Rating: ADD
- Target Price: ₹1476
- Upside: 40.06%
INCRED noted potential challenges in iron ore supply starting FY26F, with Lloyd Metals’ production playing a critical role in the market. The company is valued at 7.5x FY27F EV/EBITDA.
PG Electroplast (PGEL)
- Brokerage House: Equirus
- Rating: Buy
- Target Price: ₹980
- Upside: 20.53%
Equirus highlighted PGEL’s revenue growth of 57% CAGR over FY21-FY24, driven by product diversification and customer additions. The brokerage projects strong growth ahead, with a PAT CAGR of 60% over FY24-FY27E.
Ceat (IIFL)
- Brokerage House: IIFL
- Rating: Buy
- Target Price: ₹4000
- Upside: 29.62%
IIFL commented on the strategic fit of Ceat’s recent Michelin deal, which is expected to be EPS accretive and strengthen the case for a re-rating of the stock.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult your financial advisor before making any investment decisions.
