Brokerage Radar: HSBC trims Glenmark Pharma's target, Morgan Stanley upgrades Suzlon Energy

Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Glenmark Pharma, financial stocks, and more.

Glenmark Pharma

HSBC On Glenmark Pharma
Hold Call, Target Cut To `1,600/Sh From `1,660/Sh
Q2 Below Estimates, Mainly On Higher Overheads; Strong India Sales In Otherwise Lacklustre Quarter
New Launches And Supplies From Monroe Plant Key For Pick-Up In US Sales
New Launches And Supplies From Monroe Plant Is Key For Better Margins
Look For Improved Execution In The US Segment

MOSL On Glenmark Pharma
Buy Call, Target At `1,820/Sh
India, Europe Drive Earnings
Work-in-progress To Resolve Monroe USFDA Issue
Improved Product Mix Offset By Higher Marketing/Freight Costs
Co Expects Approval For Ryaltris NDA In China In FY26
Plans To File Envafolimab In More Than 20 Markets In FY25 & The First Mkt Launch Is Expected In FY26
For Ichnos Glenmark Innovation (IGI), R&D Spending Will Be $60-70 m Per Year Going Forward

Jefferies On Indian Hotels
Buy Call, Target At `785/Sh
Co Is Up 68% CYTD & 3x+ Since May’22, When It Presented Its Margin & Brand Portfolio Goals By 2025
Goals Set By The Co Has Already Been Surpassed
On Numbers, Management Has Refrained From Giving Any New Guidance On Margins
Management Has Rather Focused On Guiding And Maintaining Overall Growth
Guiding And Maintaining Overall Growth May Be A Talking Point Today As Well
Look Forward To Hearing About New Strategic Initiatives Towards Meeting Goals Of Consistent Growth

Morgan Stanley On Suzlon Energy
Upgrade To Overweight, Target At `71/Sh
Steep Correction An Opportunity To Accumulate
Believe Suzlon’s Business Moat & Growth Opportunity For Wind OEMs Both Remain Strong Factors
FY25 Sales Volume Lowered To 1.3 GW Vs 1.5 GW Earlier
FY25-27 Total Sales Volume Unchanged At 7.15 GW

Jefferies On Financials
Retail NPL Cycle May Be A Shallower Cycle, Especially For Leading Banks
Moderation In Unsecured Loan Growth May Be Partly Made Up By SME Loans
Banks Aren't As Aligned On Rates/ Liquidity & Sector Loan Growth
Life Insurers Seem Confident To Manage Impact Of Surrender Charges & Cap
Market Players Are On A Sweet Spot
Channel Checks Offered Constructive Feedback On Affordable HFCs

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