Brokerage: PhillipCap | Rating: Maintain Sell | Target: Cut to Rs 1,000
The global research firm said that the target includes value of special dividend of Rs 28 per share & net cash of Rs 211 per share. The stock is a long term negative as business opportunity shrinks for the listed company, it said, adding that mobility and mechanical drives business sale.
Brokerage: Deutsche Bank | Rating: Maintain Sell | Target: Rs 1,030
Deutsche Bank said that mobility separated just before the potential uptick. Meanwhile, it said that the stock is expensive on September FY19e P/E & EV/EBITDA Of 38.4x & 23.4x respectively. Valuations are steep for 26% PAT CAGR forecast over FY17-20.
Brokerage: Jefferies | Rating: Buy | Target: Rs 145
Jefferies said that acquisition of minority stake (26%) in Equirus Capital augurs well. It observed that synergies lie in broadening product offerings to corporate & SME clients. Going forward, steady loan growth, & improvement in operating efficiency should increase profitability.
Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 1,840
Motilal Oswal said that growth ingredients were in place. Rejigged strategies have started yielding results in Asia. Further, the company expects dermatology business to recover over the next 9-12 months. It also observed that the company is on track to outperform industry in other key therapies as well. It expects minimal regulatory hurdles over the medium-term for the US market.
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