Top global and domestic brokerages released their latest views on key Indian companies on May 15, with Eicher Motors, Muthoot Finance, and Jubilant FoodWorks among the most tracked counters. The majority of recommendations maintained their stance, with several raising target prices on strong fundamentals and future growth prospects.
Both Citi and Jefferies reiterated their Buy call on Eicher Motors, raising the target prices to ₹6,200 and ₹6,500 per share, respectively. HSBC, however, maintained a Hold rating with a relatively conservative target of ₹5,300 per share.
On Muthoot Finance, the sentiment was broadly positive. Jefferies maintained a Buy rating with a target of ₹2,660, while Bernstein reiterated Outperform at ₹2,500. Morgan Stanley (MS), however, maintained an Equal Weight stance with a lower target price of ₹2,400.
Jubilant FoodWorks attracted a wide range of views. While Citi retained a Buy call with a target of ₹805, Goldman Sachs (GS) stayed Neutral with a target of ₹730. UBS continued its Sell recommendation at ₹600, and CLSA maintained Underperform, setting a target of ₹519 per share.
In other updates:
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Macquarie maintained an Outperform rating on Lupin and raised the target to ₹2,515.
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JP Morgan reiterated Overweight on Hindustan Aeronautics Ltd (HAL) and increased its target to ₹5,040 from ₹4,958.
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Nomura maintained a Buy call on Shree Cement with a target of ₹34,000.
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HSBC held its Buy stance on Berger Paints with a target of ₹620.
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CLSA retained Underperform on Tata Power with a target of ₹351.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
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