Brokerage Radar: Alkem Lab gets target upgrades, Nomura upgrades Eicher Motors to 'Neutral'

Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Alkem Laboratories, Eicher Motors, Sunteck Realty and more.

Alkem Laboratories

Nomura On Alkem Lab Maintain Neutral, Target Raised To `6,097/Sh

Co Expects Slower Topline Growth But Higher Margin In FY25

Volume Growth Impacted By A Loss Of Contracts & Supply Chain

Co Expects US Biz To Decline By A Mid-single Digit Percentage YoY In FY25

Co Now Expects FY25 Revenue Growth In Mid-single Digit Vs 10% Previously

Expect Margin To Expand By 100 bps YoY In FY25 At 18.5-19.0% Vs 18% Previously

Lower Material Costs And New Business Overheads Support Margin

HSBC On Alkem Lab Maintain Hold, Target Raised To `5,540/Sh

Reported Q2 Sales Below Our Estimates

Lower Operating Expenses Helped Margin Beat Our Estimates

Margin To Be Rangebound At 19-20% Over FY25-27

Recovery In US Sales Growth Key To Reduce Margin Drag

Jefferies On Alkem lab Maintain Underperform, Target At `4,950/Sh

Q2 Results Below Our Estimates On Lower Revenue Growth Across Regions

Rev Growth Guidance Lowered While Margin Target Raised

India Growth Expectations Toned Down

US Is Expected To Pick Up Traction From Q2 & RoW Outlook Is Robust

Eicher Motors

Jefferies On Eicher Motors Retain Buy Call, target At `5,500/Sh

Q2 EBITDA Flat YoY, But 8% Below Est On Lower-than-expected RE Margin

RE Volumes Are Showing Signs Of Pick-up

RE Should Be A Key Beneficiary Of 2W Premiumisation

Toughest Phase Of Competition Is Behind

Morgan Stanley On Eicher Motors Maintain Underweight, Target At `3,655/Sh

Posted Weak Q2 Earnings With EBITDA 8% Below Our Estimate

Company Is Now Focussing More On Growth Than Margins

Growth Over Margin A Right Strategy, But Valuation Keeps Us Underweight

Despite Good Mix, EBITDA Margin Declined On A YoY Basis

Nomura On Eicher Upgraded To Neutral From Reduce, Target Raised To `4,391/Sh

Q2 Margin Misses On Growth Investments

Encouraged To See RE’s Shift In Stance To Drive Volume Growth

Market Share Loss Could Be More Gradual

Given Better Strategy, Upgrade The Stock To Neutral

Raise FY25/26 RE Volumes Estimates By 3-5%

Lower Margin Estimates By 20-40 bps For FY25/26/27

Jefferies On Sunteck Realty Maintain Buy, Target Raised To `700/Sh

Balance Sheet Turned Net Cash On Consistent Optg Cashflow Performance

Project Pipeline Doubled Over The Last 2 Yrs

FY25 Pre-sales Are Trending Well With 31% Sales Growth In H1

Management Has Reiterated Its Guidance Of 30%+ Sales Growth In FY25

Jefferies On PI Industries Maintain Buy, Target At `5,100/Sh

CSM Exports Saw Double-digit Revenue Growth

Domestic Revenue In-line While Pharma Slightly Ahead

Mgmt Lowered FY25 Rev Growth Guidance To High-single Digit

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