Brokerage firms like Investec have a hold rating on Indian Hotels, while UBS has a sell call on Cummins. Meanwhile, Bernstein and Macquarie have an outperform rating on Trent and TCS, respectively.
We have collated a list of recommendations from top brokerage firms, sourced from ETNow and other platforms:
Investec on Indian Hotels: Hold | Target price: Rs 742
Investec has maintained a hold rating on the stock and raised the target price to Rs 742 from Rs 630.
The company’s strong performance was driven by healthy ARR growth. With expanding horizons and leveraging structural tailwinds, Investec expects margins to sustain at 32%/32.5% for FY26/27, with PAT growing at a CAGR of 24% over FY24-27.
UBS on Cummins: Sell | Target price: Rs 2,380
UBS has maintained a sell rating on Cummins with a target price of Rs 2,380.
Q2FY25 saw a 12% and 14% beat on consensus topline and EBITDA, respectively, which could drive consensus upgrades. Management commentary on growth and mix in H2 will be critical. After the pre-buy, demand and margins are likely to normalize.
Bernstein on Trent: Outperform | Target price: Rs 8,100
Bernstein has maintained an Outperform rating on Trent with a target price of Rs 8,100.
Q2FY25 results were a miss, but the story remains intact. The company saw slower store additions, but recovery appears to be underway. There was a positive surprise in the EBITDA margin. SSSG and measured expansion were the key positives. The company highlighted new growth avenues like Westside Pome, Zudio Beauty, and Zudio International.
Macquarie on TCS: Outperform | Target price: Rs 5,710
Macquarie has maintained an Outperform rating on TCS with a target price of Rs 5,710.
The Air France-KLM deal suggests that data modernization efforts are gathering pace. TCS aims to deliver data accessibility on the new cloud within the first year, indicating that speed is a critical factor in this undertaking. Data modernization will be a significant incremental demand driver as enterprises prepare for AI adoption, which is a one-time effort where speed is crucial. It is better outsourced, and IT services firms are likely to benefit. Macquarie believes the TCS-Air France-KLM deal validates these views.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
We have collated a list of recommendations from top brokerage firms, sourced from ETNow and other platforms:
Investec on Indian Hotels: Hold | Target price: Rs 742
Investec has maintained a hold rating on the stock and raised the target price to Rs 742 from Rs 630.
The company’s strong performance was driven by healthy ARR growth. With expanding horizons and leveraging structural tailwinds, Investec expects margins to sustain at 32%/32.5% for FY26/27, with PAT growing at a CAGR of 24% over FY24-27.
UBS on Cummins: Sell | Target price: Rs 2,380
UBS has maintained a sell rating on Cummins with a target price of Rs 2,380.
Q2FY25 saw a 12% and 14% beat on consensus topline and EBITDA, respectively, which could drive consensus upgrades. Management commentary on growth and mix in H2 will be critical. After the pre-buy, demand and margins are likely to normalize.
Bernstein on Trent: Outperform | Target price: Rs 8,100
Bernstein has maintained an Outperform rating on Trent with a target price of Rs 8,100.
Q2FY25 results were a miss, but the story remains intact. The company saw slower store additions, but recovery appears to be underway. There was a positive surprise in the EBITDA margin. SSSG and measured expansion were the key positives. The company highlighted new growth avenues like Westside Pome, Zudio Beauty, and Zudio International.
Macquarie on TCS: Outperform | Target price: Rs 5,710
Macquarie has maintained an Outperform rating on TCS with a target price of Rs 5,710.
The Air France-KLM deal suggests that data modernization efforts are gathering pace. TCS aims to deliver data accessibility on the new cloud within the first year, indicating that speed is a critical factor in this undertaking. Data modernization will be a significant incremental demand driver as enterprises prepare for AI adoption, which is a one-time effort where speed is crucial. It is better outsourced, and IT services firms are likely to benefit. Macquarie believes the TCS-Air France-KLM deal validates these views.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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