Broker firms like Jefferies, Goldman Sachs, and CLSA offer valuable insights through their target prices, fueled by expert research. These targets validate a company’s strength, boost investor confidence, and influence market sentiment, creating opportunities for capital appreciation. Combining these targets with fundamental analysis in a company empowers informed investment decisions.
ITC Limited
CLSA recommended its outperform rating on ITC and gave a target price of Rs 483 per share which is 5 percent from its current market price.
The ITC Ltd’s next strategy is expected, to focus on R&D, supply chain, and digital. FMCG-cigarette growth outlook, assuming consumption has normalized, and an update on the timeline for ITC Hotels’ listing are also expected.
On Tuesday, the share price of ITC gained 1.6 percent to its intraday high of Rs 460 per share from its previous close of Rs 452.45. The share price has risen 36 percent in the year to date.
The ITC operating revenues rose 3.5 percent from Rs 18,608 crores in Q2FY23 to Rs 19,270 crores in Q2FY24, Furthermore, net profit increased 6 percent from Rs 4,670 crores to Rs 4,955 crores during the same period.
ITC was founded in 1910 and is the country’s largest cigarette manufacturer and seller. ITC currently operates in five business segments: FMCG Cigarettes, FMCG Others, Hotels, Paperboards, Paper and Packaging, and Agri-Business.
Godrej Consumer Product Limited
Godrej Consumer Product Limited retains a buy rating from Goldman Sachs, with a target price of Rs 1,185 per share which is 10 percent of the current market price.
The Company’s Several turnaround initiatives are in various stages of implementation. The broker sees the potential for growth with the introduction of a new liquid detergent and the execution of franchising the East Africa Dry hair business likely in Q4FY24.
On Tuesday, the share price of Godrej Consumer Product Ltd rose 2 percent to its intraday high of Rs 1,065 per share from its previous close of Rs 1,043.1. The share price has risen 16 percent in the year to date.
Looking at the company’s financial statements operating revenues rose 6.1 percent from Rs 1,959 crores in Q2FY23 to Rs 3,601 crores in Q2FY24, Furthermore, net profit increased 20 percent from Rs 358 crores to Rs 432 crores during the same period.
Godrej Consumer Products Limited is a rapidly expanding consumer goods company that produces and distributes personal care and household goods.
Coforge Limited
Jefferies has raised Coforge Limited’s target price from Rs 6,250 to Rs 6,580 per share while maintaining its ‘buy’ recommendation which is 10 percent up from the current market price. This decision is based on Coforge’s strategic initiative to increase margins by 150-300 basis points through cost optimization over the next 3-4 years.
On Tuesday, the share price of Godrej Consumer rose 1.6 percent to its intraday high of Rs 5958.8 per share from its previous close of Rs 5864.75. The share price has risen 28 percent in the six months and 48 percent in the year to date.
Looking at the company’s financial statements operating revenues rose 16 percent from Rs 1,959 crores in Q2FY23 to Rs 2,276 crores in Q2FY24, Furthermore, net profit increased 15 percent from Rs 220 crores to Rs 187 crores during the same period.
Coforge Limited is an IT services provider offering complete software solutions and support. Conforge the Indian software exporter is ranked in the top 20.
Written by Sriram KV
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