Hot Stocks: Brokerage view on ICICI Lombard, LTI MindTree, HDFC Bank and Maruti Suzuki

Brokerage firm Bernstein maintained an outperform rating on Maruti Suzuki and HDFC Bank. Macquarie recommended an outperform rating on LTI MindTree and HSBC has a buy rating on ICICI Lombard.

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

Bernstein on Maruti Suzuki: Outperform| Target Rs 14,400

Bernstein maintained an outperform rating on Maruti Suzuki but raised the target price to Rs 14,400 from Rs 11,500 earlier.

Hyundai has outpaced Maruti on the earnings front in the past few years due to its premium and SUV positioning, but Maruti is catching up.

The narrative in the PV market shifts from SUVs to EVs. The global investment bank sees Maruti as well positioned to tap the opportunity.

Maruti to benefit from a potential push towards Hybrids in the medium term.

CLSA on HDFC Bank: Outperform| Target Rs 1650
CLSA maintained an outperform rating on HDFC Bank with a target price of Rs 1650. Branch addition picked up meaningfully in Q4.

Bank opened 654 new branches in Q4FY24, taking the total branch opening in FY24 to 924.

The new branch addition is lower than FY23, but it is a better end to a slow start. Around 36% of new branch additions in FY24 were in the top 50 districts.

Macquarie on LTIMindTree: Outperform| Target Rs 6250
Macquarie maintained an outperform rating on LTIMindTree but slashed the target price to Rs 6250 from Rs 7050 earlier.

Merger synergies hit an unexpected rough patch. Top clients have performed well, client mining has faltered beyond that.

Cross-selling synergies would now come only after a demand recovery. The global investment bank retained an Outperform rating as LTIMindtree remains structurally sound.

HSBC on ICICI Lombard: Buy| Target Rs 1990
HSBC maintained a buy rating on ICICI Lombard with a target price of Rs 1990. Strong premium growth was seen in Q4. Market share gains and sharp improvement in combined ratio (CoR) were key positives.

The management remained optimistic about growth and combined ratio (CoR) guidance on the back of improvement in pricing discipline in the market.

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