Citi has shared its latest views and target prices for key companies in various sectors.
- Citi on IGL: Maintain Buy
- Target Price: ₹450/share
- Key Insights:
- 3Q EBITDA stood at ₹3.6 billion, a decline of 32% QoQ but 20% above estimates.
- Sequential decline in EBITDA margin was less severe than anticipated.
- Awaiting management guidance on margin outlook, volume growth, and value unlocking in JV MNGL.
- Citi on Petronet LNG: Maintain Sell
- Target Price: ₹310/share
- Key Insights:
- 90-day negative catalyst watch initiated due to tariff uncertainty.
- Higher provision reversals impacted results.
- Demand at the Dahej plant may remain softer in the near term.
- Await clarity on tariffs under the renewed Qatar LNG contract.
- Citi on Piramal Enterprises: Maintain Sell
- Target Price: ₹800/share
- Key Insights:
- Earnings dragged by higher credit costs of ₹6.5 billion.
- MFI segment witnessed deterioration, while other segments remained stable.
- Earnings are expected to decline by 46%/9%/9% for FY25-27E.
- Merger transition and persistent volatility weigh on valuation.
- Citi on RBI liquidity measures: Positive sentiment
- Key Insights:
- Liquidity measures to ease deposit/credit growth challenges.
- Sentimental boost for banks like HDFC Bank, Axis Bank, Federal Bank, and Bank of Baroda with stretched LDRs.
- Easier wholesale rates to benefit NBFCs like LIC Housing, Bajaj Finance, and M&M Finance.
- Key Insights:
Disclaimer: This article is based on information provided by Citi and is for informational purposes only. Business Upturn does not recommend buying, selling, or holding any stock. Please consult a financial advisor before making investment decisions.
