Landmark Cars among 4 stocks on which brokerages initiated coverage ahead of Q1 results
1/5
Unlocking value
Ahead of Q1FY24 earnings, a host of brokerages have initiated coverage on several counters. They see a strong potential for value unlocking in these companies, which includes Landmark Cars and Avalon Technologies, with a targeted upside of up to 28%. Here is a list of 4 stocks on which brokerages initiated coverage ahead of Q1FY24 results:
2/5
Nexus Select Trust | CMP: Rs 112
Kotak Institutional Equities initiated coverage on Nexus Select Trust with an Add rating. The brokerage firm set a target price of Rs 120 on the stock, which implies an upside potential of 7% from the current market prices.
"Nexus REIT is trading at a capitalization rate of 8.5% on FY2025E NOI, which will likely grow at 10% CAGR over FY2023-26E to Rs 18.6 billion. Nexus REIT holds the largest operational portfolio of retail malls in India, spread across 17 malls of 9.8 mn sq. ft, covering 14 cities and offers a play on India's consumption story while also offering a steady distribution yield (7.8% in FY2025E)," it said.
"Nexus REIT is trading at a capitalization rate of 8.5% on FY2025E NOI, which will likely grow at 10% CAGR over FY2023-26E to Rs 18.6 billion. Nexus REIT holds the largest operational portfolio of retail malls in India, spread across 17 malls of 9.8 mn sq. ft, covering 14 cities and offers a play on India's consumption story while also offering a steady distribution yield (7.8% in FY2025E)," it said.
3/5
Landmark Cars | CMP: Rs 764
Philip Capital initiated coverage on Landmark Cars with a target price of Rs 903 on the stock, which shows an upside potential of 18% from the current market prices.
"Their diversified OEM partnership and geographical presence, along with its strong track record, makes the company a preferred partner. Looking at its strong association and change in consumer preferences, we expect 11% / 20% / 23% / 43% CAGR growth for vehicles sold & service/sales / EBITDA and PAT growth, respectively, for the FY23-26 period. At CMP, the stock is trading at 16.5x FY25E," it said.
"Their diversified OEM partnership and geographical presence, along with its strong track record, makes the company a preferred partner. Looking at its strong association and change in consumer preferences, we expect 11% / 20% / 23% / 43% CAGR growth for vehicles sold & service/sales / EBITDA and PAT growth, respectively, for the FY23-26 period. At CMP, the stock is trading at 16.5x FY25E," it said.
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4/5
Avalon Technologies | CMP: Rs 612
Dalal & Broacha Stock Broking initiated coverage on Avalon Technologies with a Buy rating. The brokerage firm set a target price of Rs 781 on the stock, which indicates an upside potential of 28% from the current market prices.
"We expect Sales/EBITDA/PAT to grow at 27.5%/39.8%/66.5% from FY23-FY25. We initiate coverage on Avalon with a Buy rating, valuing the company on 35x FY25E, arriving at a target price of Rs 781," it said.
"We expect Sales/EBITDA/PAT to grow at 27.5%/39.8%/66.5% from FY23-FY25. We initiate coverage on Avalon with a Buy rating, valuing the company on 35x FY25E, arriving at a target price of Rs 781," it said.
5/5
Raymond | CMP: Rs 1,803
InCred Equities initiated coverage on Raymond with an Add rating. The brokerage firm set a target price of Rs 2,200 on the stock, which implies an upside potential of 22% from the current market prices.
"We feel Raymond is all set to deliver stellar growth led by enhanced segmental focus, improving operating metrics and key management-level changes. We initiate coverage on it with an Add rating and an FY25F SOTP-based target price of Rs 2,200," it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
"We feel Raymond is all set to deliver stellar growth led by enhanced segmental focus, improving operating metrics and key management-level changes. We initiate coverage on it with an Add rating and an FY25F SOTP-based target price of Rs 2,200," it said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)