Hot Stock: Brokerage view on SBI, Cipla and Titan Company post Q2 results

Brokerage firm Macquarie maintained an outperform rating on Cipla, Jefferies maintained a buy recommendation on State Bank of India, and ICICIdirect has a buy call on Titan Company post September quarter results.

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

Macquarie on Cipla: Outperform| Target Rs 1265

Macquarie maintained an outperform rating on Cipla post Q2 results and increased the target price to Rs 1265 from Rs 1220. It was an operational beat after adjusting for one-offs, the brokerage said.


Jefferies on SBI: Buy | Target Rs 760

Jefferies maintained a buy rating on SBI post Q2 results and increased the target price to Rs 760 from Rs 700 earlier.

The brokerage firm raised FY23E earnings by ~16% and FY24-25 estimates by 10-14%. It maintained SBI as its top pick in the sector.

ICICIdirect on Titan Company: Buy | Target Rs 3240

ICICIdirect maintained a buy rating on Titan Company post Q2 results with a target price of Rs 3240. Titan has transformed itself from a watchmaker to an enviable lifestyle company, with jewellery being the leading vertical (85% of revenues), it said.

According to the brokerage, Titan has been an exceptional performer in the discretionary space with stock price appreciating at ~30% CAGR in the last five years.

“We continue to remain structurally positive on the stock as high growth visibility justifies premium valuations. We maintain a buy rating on the stock,” said the note.

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