Brokerage Radar: UBS cuts IndusInd's target price, Jefferies upgrades Indian Oil to 'Buy'

Brokerage Radar

Check out the latest brokerage calls and analyst comments on the stocks in action today. Our coverage includes Infosys, banking stocks, pharma stocks and more.

UBS On Banks
Neutral Call On IndusInd Bk, Target Cut To `1,150/Sh From `1,350/Sh, Cut EPS By 5%/6% For FY25/26
Neutral Call On Axis Bank, Target Cut To `1,210/Sh From `1,250/Sh
Neutral Call On AU Small Fin Bank, Target Cut To `640/Sh From `750/Sh
HDFC Bank, ICICI Bank & Federal Bank Are Top Picks
Non-Performing Loans Risks Increased For CV And Business Loans
Static Pool Analysis Of Disbursements In Recent Quarters Suggests Deterioration In Portfolio Quality
Maintain View On Rising NPLs & Raise Credit Cost Estimate By 2-25 bps Across Lenders
Among NBFCs, Increase Credit Cost Estimate For FY25/26 By 1-20 bps & Cut FY25/26 EPS By 1- 7%
Increase Credit Cost Est & Cut In EPS For For Bajaj Fin, Cholamandalam Invst, Shriram Fin & M&M Fin

Citi On Infosys
Neutral Call, Target At `1,965/Sh
Co Is Witnessing Improvement In Discretionary Spend Particularly In The US Financial Svcs Sector
Cost Optimisation Projects Remain A Contributor To Deal TCV
New Deals Are Also Driven By Compliance And Digital Transformation Initiatives
Financial Services Slowed Down First And Is Starting To Recover
On IT Budgets, Co Gets Some Sense From Clients In Jan/Feb In Terms Of What They Are Looking At

Goldman Sachs On Pharma
Continue To Prefer Syngene (Buy) & Neuland (Buy) Over Divi’s (Neutral), Gland (Sell) & Laurus (Sell)
Analyse Export Data Of Key CRDMO Cos For Nov’24 Suggests Mixed Trends
Export Data Exhibits Relatively High Correlation To Actual Reported Numbers
Export Data Highlights That Monthly Fluctuations For Relatively Smaller Cos Can Remain High
Fluctuations For Smaller Cos Can Remain High Due To Bunching Of Shipments In A Particular Month

Jefferies On Indian Oil
Upgrade To Buy, Target At `185/Sh
Refining Is Set To Strengthen In CY25 On Accelerated Capacity Closures Amidst Healthy Demand
Amongst OMCs, Co Is Most Levered To Refining Margin Improvement
Co Is Most Levered To Refining Margin Improvement Due To Its Highest Refining/Marketing Ratio
Risk Reward Has Turned Favourable After 20% Correction Over Past 3 Months

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