Monday’s top brokerage calls: Marico, Avenue Supermarts and more
Citi on Marico: The brokerage maintains a ‘buy’ call on the stock with the target at Rs 595 per share. It said that there were no material surprises from the Q1 trading update and that the revenue growth is likely to be healthy.Goldman Sachs on Marico: The brokerage has a ‘neutral’ call on the stock with the target at Rs 475 per share. It said that the company expects to deliver muted bottom-line growth in the quarter.Macquarie on Avenue Supermarts: The brokerage has an ‘outperform’ call on the stock with the target at Rs 3,700 per share. It upgraded FY23/24 EPS estimates for the firm by 4 percent/6 percent. It added that inflation should increase the attractiveness of value retailers like D-Mart.Morgan Stanley on Avenue Supermarts: The brokerage is ‘overweight’ on the stock with the target at Rs 3,218 per share. It noted that D-Mart was one of the best re-opening plays last year and the firm is now better positioned in the online delivery platform.CLSA on Tata Steel: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,462 per share. CLSA expects the margin for the firm to improve further from the decadal high of Q4. It added that the firm will benefit from the higher steel prices in India and strong spreads in Europe.CLSA on Telecom: The brokerage continues to have Bharti Airtel as preferred pick in telecom space with 4G penetration at 56 percent of its 321 million subscribers.
