Hot Stocks: Brokerage view on Birla Fashion, Bank of India and NRB Bearings

Brokerage firms such as Citigroup maintained a buy rating on Aditya Birla Fashion, Morgan Stanley has an overweight rating on Bank of India, and Anand Rathi has a buy rating on NRB Bearings.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

Citigroup on Aditya Birla Fashion: Buy | Target Rs 347

Citigroup maintained its buy rating on Aditya Birla Fashion with a target price of Rs 347. The global investment bank marginally changed its FY23-25E EBITDA estimates by -1% to +1%.

EV/EBITDA multiples for Lifestyle reduced to 15x (from 18x). Correction valuation across consumer discretionary and Retail companies.

The global investment bank revised the target price to Rs 347 compared to Rs 405 earlier.

Morgan Stanley on Bank of India: Overweight | Target: Rs 125
Morgan Stanley maintained its overweight rating on the Bank of India with a target price of Rs 125. The global investment bank believes the share price will rise relative to the industry over 60 days.

The stock has corrected by about 24% over the past two months. Bank of India remains well placed given strong balance sheet.

The global investment bank expects RoA to rise to 0.8/0.9% in F24/F25 and see upside risk ODE. The risk-to-reward appears attractive to us in the above backdrop.

Anand Rathi on NRB Bearings: Buy
Anand Rathi maintained its buy rating on NRB Bearings with a target price of Rs 174. NRB’s focus and embracing future technologies with re-inventing and altering its capabilities has led the company to supplying the world’s foremost E-Vehicles.

“We valued NRB at Rs 174 i.e. 17x P/E on FY24E EPS. We maintain a BUY on NRB Bearings Limited,” said the note.

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)