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Hot Stock Picks: Top Brokerage Firms Share Views on Vodafone Idea, Bharti Airtel, Bajaj Finance, and M&M Finance

Top brokerage firms like Goldman Sachs and Jefferies have shared their latest recommendations for stocks like Vodafone Idea, Bharti Airtel, Bajaj Finance, and M&M Finance. Here’s a summary of their recommendations:

Goldman Sachs on Vodafone Idea: Sell | Target Price: ₹2.5

Goldman Sachs has kept a “Sell” rating on Vodafone Idea and increased its target price to ₹2.5 from ₹2.2. The brokerage firm is concerned about the company’s unclear path to free cash flow (FCF) break-even and regaining market share. They predict a 300 basis points (bps) loss in market share over the next 3-4 years. Even in the best-case scenario, where there are 65% lower adjusted gross revenue (AGR) dues, regular tariff hikes, and no government repayments soon, the estimated value per share is ₹19.

Goldman Sachs on Bharti Airtel: Buy | Target Price: ₹1,700

Goldman Sachs has maintained a “Buy” call on Bharti Airtel and raised the target price to ₹1,700 from ₹900. They believe strong growth, along with a rising FCF/returns profile, supports a higher valuation. The brokerage firm expects Bharti Airtel’s revenue and EBITDA in India to grow at a compound annual growth rate (CAGR) of 16% and 21% respectively from FY24 to FY27. They also anticipate an improved balance sheet with nearly zero net debt by FY28.

Jefferies on Bajaj Finance: Buy | Target Price: ₹8,410

Jefferies has maintained a “Buy” rating on Bajaj Finance, increasing the target price to ₹8,410 from ₹7,780. After meeting with management, they noted an improvement in loan bounce rates, which could lower credit costs starting in Q3. Jefferies expects a moderate slowdown in loan growth from 31% to around 25-26%. They also see credit costs stabilizing and net interest margins (NIMs) holding steady, with earnings likely to improve from Q3.

Jefferies on M&M Finance: Hold | Target Price: ₹315

Jefferies has kept a “Hold” rating on M&M Finance and raised the target price to ₹315 from ₹305. The company sees stable disbursement trends, and better rural demand during the festive season could boost disbursements in the second half of the year. The management also expects a slight increase in NIMs and a gradual rise in fee income. Jefferies predicts that credit costs could drop by 20 bps in FY25, and investors will likely focus on a more sustainable reduction in credit costs due to fewer write-offs.

These are the latest stock recommendations from top brokerage firms for investors to consider!

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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