AgenciesNew Delhi: After Q1 earnings and updates, global brokerages have mixed opinions on Indian stocks. They see a strong upside in PVR, whereas they remain neutral on and mixed over .
Citi has a neutral outlook on Hindustan Zinc, which announced an interim dividend of Rs 21 per share for the financial year 2022-23. The brokerage sees the stock at Rs 255, following a 14 per cent correction in shares in 2022.
Zinc LME has dropped about 15 per cent, but valuations appear inexpensive at 5.5, it said. The stock may remain range bound with limited cost support for Zinc LME, Citi added.
Foreign brokerage UBS has maintained its buy rating on PVR with a target price of Rs 2,300 as it sees the multiplex major back in full swing after a long Covid-19 impact.
UBS believes that PVR may report its best box office on a quarterly basis. PVR has subsequential upside potential from PVR over the merger, it said, increasing its EPS estimates by eight per cent and two per cent for FY23 and FY24, respectively.
However, UBS has a 'sell' call on MindTree with a target price of Rs 2,700 even as it felt the company gave a beat on revenue.
On the other hand, Morgan Stanley has an equal-weight rating on MindTree after the company reported better than expected numbers. It continues to have a positive outlook on the stock.
"The robust execution was masked by a volatile macro environment and reiteration of more than 20 per cent EBITDA margin were the key positive. However, a volatile macro environment creates uncertainty over the demand," it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Citi has a neutral outlook on Hindustan Zinc, which announced an interim dividend of Rs 21 per share for the financial year 2022-23. The brokerage sees the stock at Rs 255, following a 14 per cent correction in shares in 2022.
Zinc LME has dropped about 15 per cent, but valuations appear inexpensive at 5.5, it said. The stock may remain range bound with limited cost support for Zinc LME, Citi added.
Foreign brokerage UBS has maintained its buy rating on PVR with a target price of Rs 2,300 as it sees the multiplex major back in full swing after a long Covid-19 impact.
UBS believes that PVR may report its best box office on a quarterly basis. PVR has subsequential upside potential from PVR over the merger, it said, increasing its EPS estimates by eight per cent and two per cent for FY23 and FY24, respectively.
However, UBS has a 'sell' call on MindTree with a target price of Rs 2,700 even as it felt the company gave a beat on revenue.
On the other hand, Morgan Stanley has an equal-weight rating on MindTree after the company reported better than expected numbers. It continues to have a positive outlook on the stock.
"The robust execution was masked by a volatile macro environment and reiteration of more than 20 per cent EBITDA margin were the key positive. However, a volatile macro environment creates uncertainty over the demand," it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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