Hot Stocks: Credit Suisse sees over 20% upside in SBI and Bank of Baroda; here’s why

Brokerage firm Credit Suisse has raised the target price for SBI and Bank of Baroda, Monarch Networth Capital initiated buy rating on Ethos, and ICICIdirect has a hold rating on Mazagon Dock after the recent rally.

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

Credit Suisse on PSU: SBI Target Rs 730 | Bank of Baroda Target Rs 220

Credit Suisse maintained its positive stance on PSU banks. A rising tide is likely to lift "most" of the boats.


Banks have seen strong profitability, and the global investment bank expects the trend is likely to sustain in the near future.

The asset quality is likely to remain benign. Strong industry trends bode well for PSU banks, said the note.

Credit Suisse raised target price on SBI to Rs 730 which translates into an upside of over 20% from Rs 607 recorded on 7 December, 2022.

The global investment bank raised the target price for Bank of Baroda to Rs 220 which translates into an upside of over 25% from Rs 176 recorded on December, 7 2022.

Monarch Networth Capital on Ethos: Buy | Target Rs 1400

Monarch Networth Capital initiated coverage on Ethos with a buy rating and a target price of Rs 1400. Ethos is one of India’s most prominent luxury retail brands and the market leader for luxury watches in India.

Fortified by over two decades of experience, Ethos manages over sixty watch brands, of which more than 35 are exclusively available at Ethos.

The company has around 48 stores and is constantly on the prowl to add more stores. Its strategy to further diversify its product range will likely make it synonymous with luxury, the note said.

ICICIdirect on Mazagon Dock Shipbuilders: Hold | Target Rs 1025

ICICIdirect maintained its hold rating on Mazagon Dock Shipbuilders with a target price of Rs 1025. Mazagon Dock Shipbuilders (MDL) is engaged in the construction and repair of warships and submarines for the Ministry of Defence (MoD) to be used by the Indian Navy along with other vessels for commercial clients.

“We expect MDL to deliver earnings CAGR of 24% in FY22-24E led by 18% revenue CAGR (on better execution) and sustainable margins,” 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)