Hot Stocks: Brokerages view on Zomato, Delhivery, Adani Ports and Siemens

Brokerage UBS maintained a buy rating on Zomato and initiated coverage on Adani Ports and Delhivery. Motilal Oswal recommended a buy on Siemens.

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

UBS on Zomato: Buy| Target Rs 150

UBS maintained a buy rating on Zomato with a target price of Rs 150. The data for Nov'23 shows a third straight month of soft demand.

Industry volumes were down 2% on a MoM-adjusted basis for the number of days. Zomato's volumes were down 1% on a MoM basis in November.

Zomato continues to gain a share for the third straight month. However, December is typically the strongest month of the quarter.

UBS on Logistics: Delhivery, Adani Ports and Container Corp
UBS initiated coverage on Delhivery with a buy rating and a target price of Rs 500. The focus is on parcel growth and Spoton integration.

The global investment bank, UBS, initiated coverage on Adani Ports with a neutral rating and a target price of Rs 1175. It sees a limited upside in the stock post its recent run and modest sector growth.

UBS initiated coverage on Container Corporation with a sell rating and a target price of Rs 770. The investment bank is cautious on market share losses, high valuations, and weak Exim cycle.

Motilal Oswal on Siemens: Buy| Target Rs 4600
Motilal Oswal maintained a buy rating on Siemens with a target price of Rs 4600. Siemens in its analyst meeting highlighted growth opportunities across segments, plans to demerge its energy division, and plans to increase localization across segments.

The stock is trading at a P/E of 51.1x/42.9x on FY25E/FY26E. A potential demerger and listing of Siemens’s India Energy segment should open avenues for value-unlocking over the next 2-3 years.

“We continue to value it at 55x P/E on a 2-year forward earnings and maintain our buy rating with a target of Rs 4,600,” said the note.

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