Tuesday’s top brokerage calls: Ashok Leyland, ITC, Zomato and Escorts
Goldman Sachs on Zomato | Goldman Sachs maintains ‘buy’ on the shares of Zomato with a target price of Rs 100. Food delivery segment seeing narrowing losses while Blinkit is scaling up at a robust pace says the brokerage house.CLSA on ITC | CLSA maintains ‘outperform’ on the shares of ITC with a target price of Rs 330. The brokerage house notes that that the company is preferred pick, raises FY23-24 earnings by 8 percent to capture recovery.CLSA on Escorts | CLSA downgrades to ‘sell’ on the shares of Escorts with a revised target price of Rs 1,612. The brokerage house notes that the big miss on margin led to negative surprise.Morgan Stanley on Ashok Leyland | Morgan Stanley maintains ‘overweight’ on the shares of Ashok Leyland with a target price of Rs 156. According to the brokerage house, price hikes and softening commodity prices could drive margin expansion for the company.
