Brokerage: CLSA | Rating: Buy | Target: Rs 340
The brokerage believes that the miner is in a sweet spot and expects expanding capacity to drive robust volume growth. Furthermore, its low cost positioning and high zinc exposure keeps it well placed against its peers, CLSA observed. It forecasts 40 percent CAGR over FY17-20 with significant deleveraging and doubling of return on equity (RoE).
Brokerage: CLSA
The research firm forecasts over 20% CAGR in free-cash-flow over FY17-20. It sees acceleration over FY17-20 led by pick-up in revenue growth and margin expansion, it said in its report. Additionally, its leading with respect to GST preparedness should help in lower disruption.
Brokerage: CLSA | Rating: Buy | Target: Rs 430
CLSA believes that the merger with Indus will boost scale and improve capital structure. It forecasts the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) at 10 percent CAGR with data network ramp up over FY17-19.
Brokerage: Goldman Sachs | Rating: Buy | Target: Rs 450
The global investment bank believes that the company will achieve a significant expansion in RoEV over the next five years. It raised FY22 RoEV to 26.4% from 24.8% previously. Further, Goldman Sachs believes investors will gain confidence on valuation upside and consistent delivery.
Brokerage: Credit Suisse | Rating: Outperform | Target: Rs 650
Credit Suisse believes that the company is one of the few recent entrants to have built a retail loan book of scale. It expects the firm to clock over 28 percent loan book CAGR over three years. Home loans, CVs & SME are expected to be drivers of growth, said, adding that the company could deliver over 36 percent earnings per share (EPS) CAGR over three years. The brokerage also said that the stock is reasonably valued for visibility on earnings growth and RoE expansion. Meanwhile, risks for the stock include margins pressure in home loans and yield pressure in wealth management.
Brokerage: Goldman Sachs | Rating: Buy | Target: Rs 372
The global research firm believes that the bank still trades at undemanding valuations. The stock could rerate higher on moderating asset quality concerns.
Brokerage: Goldman Sachs | Rating: Neutral | Target: Rs 30
Goldman Sachs expects NHPC to commission 1.4 GW of capacity over FY18-20. It sees limited earnings growth prospects over the medium term.
Brokerage: Centrum | Rating: Buy | Target: Rs 205
The brokerage house believes that all negatives in the export market are behind. Increasing focus on domestic sales and deleveraging the balance sheet augurs well for it.
Brokerage: Credit Suisse | Rating: Outperform | Target: Rs 220
Retail lending franchise could now start bearing fruit, the brokerage said in its report. It expect a 26% loan book CAGR over three years, and non-lending businesses should help deliver non-linear growth, it added.
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