Brokerage Radar: Jefferies upgrades target price of IndiGo, Zomato; UBS initiates coverage on Shyam Metalics with 'Buy'

Stock Market Trend

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Zomato, Interglobe Aviation, Maruti Suzuki and more.

Zomato

Bernstein On Zomato
Outperform Call, Target `275/Sh
Paytm’s Ticketing Business Acquisition Will Expand TAM For Co Into Event Ticketing Business
Acquired Business Will Be Part Of New App ‘District’, Expected To Launch In A Few Weeks
Co Has A Strong Track Record Of Successfully Acquiring Consumer Tech Businesses

Jefferies On Zomato
Buy Call, Target Raised To `335/Sh
Valuation Of Paytm’s Ticketing Business Acquisition Looks Compelling In Context Of Growth Forecast
Ultimate Margin Like Food Delivery, Low Capital Intensity Promises High Return Ratio In Steady-state
Co Up Against Leader 'Bookmyshow,' The Question Is Can Zomato Do It Yet Again?

Nomura On Zomato
Buy Call, Target `280/Sh
Mgmt Believes Paytm’s Ticketing Biz Acqn Will Help To Focus On Areas Where It Expects To Raise GOV
Co Expects To Increase Gross Order Value From `3,200 Cr In FY24 To `10,000 Cr In FY26
Biggest Risks Are Smooth Integration Of Acquired Businesses Into New District App
Cash Burn Initially To Incentivize Users To Migrate From Paytm’s App To Zomato & District Apps

Interglobe Aviation (IndiGo)

Jefferies On IndiGo
Upgrade To Buy, Target Raised To `5,225/Sh From `4,400/Sh
Co’s Operating Performance Has Consistently Surprised In The Past 12-18 Months
Precarious Industry Capacity Situation Has Kept Yields/Spreads Healthy
Supply Adds Seem To Have Picked Up Recently
Raise Spread Estimates, EPS By 6-7% For FY26/27

HSBC On IndiGo
Buy Call, Target `5,165/Sh
Business Class Launch Of Co Ends Vistara/Air India Monopoly
Business Class Launch May Not Be Margin Accretive In The Near-term
The Shift Could Reduce Leakage Of Corporate Traffic And Strengthen Positioning
Loyalty Program, Strong Network And Corporate Market Share Could Support Its Premium Product

CLSA On Vedanta
Outperform Call, Target `520/Sh
Strong Commodity Cycle & Margin Expansion Projects To Drive Upside
Current Stock Price Seems To Factoring In Aluminium / Zinc Prices To Be $170/140/t Lower Than Spot
Recent Corporate Actions (Stake Sale In Hindustan Zinc & Dividend) Augur Well For Deleveraging
With A Positive Outlook On Metal Prices, & High Dividend Yield, See Risk Reward Attractive

UBS On Shyam Metalics
Initiate Buy, Target `1,200/Sh
The Company Is On A High Growth And Transformation Journey
Management's Pragmatic Approach To Move Up Value Chain
Diversifying Products/Metals & Backward Integration To Capture Efficiencies Make It Stand Out
Successful Foray Into New Businesses Showcases Its Execution Capabilities
Multiple New Projects Commencing Operations In FY25/26 Provide Strong Earnings Visibility
Multiple New Projects Mitigate Profitability Risk Through Diversification
Believe Market Is Not Fully Appreciating Integrated Operations Such As Internal Sourcing

BofA Sec On Maruti Suzuki
Neutral Call, Target `14,200/Sh
Demand Trends In India Have Been Soft Over Last Couple Of Months
India PV Industry Growth Guide Remains At Low-single Digit For FY25
Festive Trends However Will Be Key To Monitor
Sensed More Confidence On Margin Delivery Given Favorable Mix (CNG) & Benign RM

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.