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Credit Suisse launches coverage
With a target price of Rs 510, which is 18 per cent lower than the previous close of Rs 621.90. The stock is trading at 3.2x FY24E P/BV, it said.
The forex broker expects growth to be moderate from historical levels. “Increased operating expenses will keep ROA at 1.7 percent and ROE at around 17 percent, which is similar to large banks as there are stock trade premiums,” Credit Suisse said.
Another foreign brokerage firm CSLA has . It has given a target of Rs 7,053 over the counter, indicating a fall of 17 per cent in the country’s largest carmaker.
The brokerage noted that
It needs to gain massive market share to capture 50 per cent market share and it is lagging behind in the SUV segment.
“Increasing volumes may aid in improving EBITDA margins and EPS but margin tailwinds may be offset by airbag regulations.”
ahead, CLSA Owing to its cheap valuations (AMC) it has maintained a buy rating. It has set a target price of Rs 2,230, indicating a 27 per cent growth potential in the counter.
It sees a strong correlation of earnings with equity markets, which have been stabilizing recently. However, CLSA has cut its estimates for FY23-25CL by 10-11 per cent.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. They do not represent the views of The Economic Times)
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