Hyundai Motor, Tata Technologies among 7 stocks on which brokerages initiated coverage, see up to 98% upside: Know Everything Here
Multiple global and domestic brokerage firms have launched covering several equities, expressing strong opinions on Swiggy, Hyundai Motor, Tata Technologies, GMM Pfaudler, and JSW Energy, with possible gains of up to 98%. Below is a list of seven stocks on which brokerages have commenced coverage:
Hyundai Motor: CMP: Rs 1,787
CLSA, a global brokerage firm, has commenced coverage of recently listed Hyundai Motor India with an “Outperform” rating and a target price of Rs 2,155. The brokerage predicts a 21% upside potential and highlights the automaker’s promising development prospects and strategic expansion plans.
CLSA describes Hyundai’s positioning as ‘aspirational yet cheap,’ noting that, while the firm is currently facing moderate growth despite high utilization rates, its future remains optimistic.
Swiggy | CMP: Rs 492
Bernstein launched coverage of Swiggy with an ‘Outperform’ rating and a target price of Rs 635 per share, implying a 29% upside from the stock’s present levels.
According to Bernstein, Swiggy is well-positioned to benefit from the structural shift toward super-fast delivery models in India’s rapidly rising convenience economy. This economy has an 8% penetration rate and a total addressable market of $70 billion. Bernstein expects this segment to expand at a compound annual growth rate (CAGR) of more than 50%.
Ambit, a domestic brokerage firm, commenced coverage on GMM Pfaudler with a ‘Buy’ rating and a 24-month target price of Rs 2,400, implying a significant 98% upside in the stock.
“GMM trades at 30x FY26E P/E (12x EV/EBITDA), a 25-35% discount to its peers given earlier growth/margin issues due to deceleration in end-user capex. Valuations should re-rate with end-user capex uptick driving earnings rebound. We bake in 9%/12%/14% rev/EBITDA/FCF CAGR and expect GMM to scale 5x over FY24-41E (7x, FY19-24),” the brokerage said.
