Hot Stocks: Brokerages on Maruti Suzuki, Axis Bank, Paytm and SBI Card

2 months ago 38

Read Original Article At Source Website

Read Original Article At Source

Global brokerage CLSA maintained a sell rating on Maruti Suzuki, Investec recommended a hold on Axis Bank, while CLSA reiterated a sell on SBI Cards and Paytm.

We have collated a list of recommendations by top brokerages from ET NOW and other sources:

CLSA on Maruti Suzuki: Sell | Target Rs 7374
CLSA maintained its sell rating on Maruti Suzuki for a target of Rs 7374. "Bookings for Vitara exceed 57,000. Grand Vitara's pricing is higher than the Hyryder," CLSA said.

Consensus estimates are too bullish on market share gains, CLSA added. The global investment bank sees market share gain to be difficult, given an increase in the competition.

Investec on Axis Bank: Hold | Target Rs 800
Investec recommended a hold rating on Axis Bank with a target price of Rs 800. It expects the management to increase growth guidance leading to positive rerating.

Relative valuation gap to narrow over the next few quarters, Investec said. Axis Bank is currently trading at a steep 36% discount vs ICICI Bank.


CLSA on SBI Card and Paytm | Reiterate Sell
CLSA reiterated a sell rating on both SBI Card and Paytm with a target price of Rs 830, and Rs 650 respectively.

"Growth will be driven by the non-remunerative UPI. SBI Card has a good business model, but the future is not picture-perfect. Paytm payment take-rate improving, but high costs to impact profits," said the note.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Read Original Article At Source Website

Read Original Article At Source

*Note: Their will be lot of difference between article source and this article. We have changed the way of writing from original source website.

Sponsored