Sensex at 80,000: ICICI Bank, Nestle among top 7 stock picks of brokerages

Target price: Rs 620Global brokerage firm Bernstein initiated coverage on PFC with a target price of Rs 620 while stating that investors are under-estimating the duration and intensity of this power cycle and the NPA risk is much lower this cycle.

Target price: RS 635

Bernstein had also initiated coverage on power financier REC with a target price of Rs 635 as it believes that the stock is a leveraged power sector playsport as REC shows a stronger correlation to power prices and stocks than to its banking peers.

Target price: 1,325

Axis Securities states that given ICICI Bank’s current market share across micro markets, the bank has adequate growth headroom. The management also indicated that the demand visibility across segments continues to remain strong and should not be constrained for the bank over the medium term.

Target price: Rs 2,880

Axis Securities bets on the ‘RURBAN’ for Nestle as the rural accounts for 20% of sales and the management highlighted that its various initiatives such as HAAT activations, improving shop visibility through RURBAN smart stores, and implementation of Project Swabhimaan to empower rural women (similar to HUL’s Shakiamma’s) is bearing fruits in overall rural growth.

Target price: Rs 1,400Domestic brokerage firm Kotak Institutional Equities double upgraded the stock to add from sell while stating that the party will continue for Lupin against robust earnings outlook while a strong US trajectory is also expected to continue in FY25E and FY26E.

Target price: Rs 1,474

B&K Securities in its report said that Affle management’s efforts in turning

around the developed markets have borne fruit. Growth in developed markets shall compensate for the loss in RMG revenues in the Indian market.

Target price: Rs 1,600B&K Securities expects CIFC to grow its AUM by 26.4% CAGR over FY24-26E, with the management guiding for 25-30% growth for FY25. The domestic brokerage firm anticipates a 23 bps NIM expansion over FY24-26, as margins for the VF business are likely to improve from current levels.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)