Several brokerages have reiterated bullish calls on select large-cap and mid-cap stocks, maintaining positive ratings with revised target prices.
Goldman Sachs on Eicher Motors
Goldman Sachs has maintained a ‘Buy’ rating on Eicher Motors and raised the target price to Rs 9,200 from earlier levels (CMP: Rs 8,009.50). The brokerage highlighted improved volumes for the Hunter 350 post GST cuts on sub-350cc bikes and expects capacity acceleration over the next 24 months. It has also raised FY26–FY28 EPS estimates by up to 3%.
Jefferies on Alkem Laboratories
Jefferies maintained a ‘Buy’ on Alkem Laboratories with a target price of Rs 6,550 (CMP: Rs 5,464). The brokerage flagged the company’s medtech focus and Occlutech acquisition. It expects scaling through inorganic growth and sees a Rs 1,000 crore medtech revenue target over five years with EBITDA margin aspirations of 20–25%.
Motilal Oswal on JK Cement
Motilal Oswal Financial Services (MOSL) retained a ‘Buy’ on JK Cement with a target price of Rs 6,780 (CMP: Rs 5,911.50). Strong demand in north and central regions, Panna Phase-2 commissioning and Jaisalmer expansion underpin volume CAGR of 13% over FY26–FY28.
Motilal Oswal on Tata Steel
MOSL maintained a ‘Buy’ on Tata Steel with a target of Rs 240 (CMP: Rs 209.03). The brokerage cited strong domestic demand, safeguard duty support and improving EU operations. Valuations stand at 7.7x EV/EBITDA and 2.3x FY27E P/B.
Nuvama on Hitachi Energy
Nuvama maintained a ‘Buy’ on Hitachi Energy India and raised the target to Rs 26,400 (CMP: Rs 23,569). The brokerage expects a strong T&D capex cycle beyond FY32, supported by data centres, railways and HVDC pipeline growth.
Citi on LIC Housing Finance
Citi reiterated a ‘Buy’ on LIC Housing Finance with a target price of Rs 730 (CMP: Rs 522.15). It sees attractive valuations at 0.6x FY27 P/B and 5x FY27 P/E, with limited downside risk.
CLSA on Coforge
CLSA assigned a high-conviction ‘Outperform’ on Coforge with a target price of Rs 2,426 (CMP: Rs 1,372.80). The brokerage highlighted a $1.56 billion, 13-year Sabre deal signed in March 2025, providing long-term revenue visibility.
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