m&m share price: Hot Stocks: Brokerages on M&M, Voltas, SRF, and UltraTech Cement

Global brokerage firm Goldman Sachs kept a Buy rating on M&M, while Credit Suisse kept Underperform. At the same time, Jefferies maintained its neutral position on SRF and JPMorgan.

We’ve compiled a list of top brokerage firm recommendations from ETNow and other sources:

Goldman Sachs on M&M: Buy| Target Rs 1640
Goldman Sachs kept a Buy rating on M&M with a target price of Rs 1640. The global investment bank raised FY23/FY25 EPS estimates by as much as 4%.

Investors are expected to focus on the company’s capacity expansion plans.

Credit Suisse on Voltas: Underperform| Target 800 rupees
Credit Suisse maintained an underperform rating on Voltas with a price target of Rs 800. The susceptibility to market shares and margins remain, it said.

“The AC segment is losing market share and the intensity of competition has increased. Competition is likely to intensify and lower margins are likely to be expected in the meantime,” it added.

The global investment bank has slashed 2023/24/25E earnings per share by 19%/9%/7%.

Jefferies on SRF: Hold| Target Rs 2290
Jefferies maintained a hold rating on SRF with a target price of Rs 2290. The company reported that demand weakness and margin decline were well missed.

“SRF reported Q2 sales that were in line. EBITDA was 20% below estimates. Chemical margins fell 194 basis points QoQ,” it said.

JPMorgan on UltraTech: Neutral| Target: Rs 6125
JPMorgan maintained a neutral rating

Cements with a price target of Rs 6125. Management is confident in the demand prospects.

The global investment bank expects margins to recover from Q2 levels. Fuel costs are likely to remain high and cement price hikes are likely to come through, it said.

(Disclaimer: Experts’ recommendations, suggestions, views and opinions are their own. These do not represent the views of Economic Times)

https://economictimes.indiatimes.com/markets/stocks/news/hot-stocks-brokerages-on-mm-voltas-srf-and-ultratech-cement/articleshow/95293447.cms m&m share price: Hot Stocks: Brokerages on M&M, Voltas, SRF, and UltraTech Cement

Russell Falcon

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