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We’ve compiled a recommended list of the world’s top brokerages from ETNow:
JPMorgan: Overweight | Target Rs 5,600
JPMorgan maintained an overweight rating on Info Edge with a target price of Rs 5,600, up more than 26 percent from Rs 4,431 on August 12.
Core billing continues to be strong. Naukri is still the star and the 99-acre investment will continue. The global investment bank improved overall revenue by 6%/7%/7% in FY23/24/25.
CLSA on Muthoot Finance: Underperforming | Target Rs 1,200
CLSA maintained an underperform rating on Muthoot Finance with a target price of Rs 1,200, implying a marginal upside of more than 1% from Rs 1,187 on August 12.
The brokerage said the gold loan book shrank, while terminating pre-announced loans to benefit from the next quarter. Expense ratios remain high.
CLSA vs Zee Entertainment: Buy | Target Rs 316
CLSA maintained a buy rating on Zee Entertainment with a target price of Rs 316, up more than 30% from Rs 241 on August 12.
“The first quarter was hit by a weak advertising environment. However, advertising revenue in the first quarter of fiscal 2023 grew by 6% year-on-year. The global investment bank lowered its FY23/25CL forecast by 2-12%,” it said.
We view the merger closure as an equity catalyst, the report said.
(Disclaimer: Advice, advice, views and opinions given by experts are their own. These do not represent the views of The Economic Times)
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