The Sensex at 39,000 points is not really cheap. One has to look for value, before buying into stocks. Here are a few stocks that brokerages are recommending despite a surge in stock prices in the last few weeks.
Punjab National Bank
Sharekhan has a buy rating on Punjab National Bank. "We believe the outlook for PNB has improved, with better recoveries and upgrades than slippages indicating peaking of NPA woes for the bank. The monetisation of Non-core assets progressing well, to augment profitability and Capital Adequacy. PNB effectively revamping organizational processes & framework to better manage risk. we maintain a price target of Rs 110," Share khan has stated in its latest report.
Motilal Oswal has a buy rating on Titan with a price target of Rs 1,300 in its research report.
"The Watches division reportedly continued its healthy growth momentum for the past few quarters, ending the year with 16 per cent growth (implying 14 per cent growth in 4QFY19). Eyewear achieved revenue growth of 23 per cent for the full year (implying 18 per cent growth in 4QFY19). There is no material change to our EPS estimates. We maintain our Buy rating with a target price of INR1,300, valued at 51x Mar'21 EPS, The 15 per cent premium to three-year average multiple because of its strong earnings growth prospects," the firm has said in its recent report.
Sharekhan has a buy on the stock of Federal Bank with a price target of Rs 110. "Federal Bank's strategy to have a pan-India presence will drive growth and granularity of its loan book. Bank has been proactive in recognising stress and has been actively trying to improve the quality of its book. Federal Bank's efforts to diversify its income source by investments in related businesses, adding new streams to fee and other income are bearing fruits," the firm has stated in its report.
"We upgrade our rating to Buy with a revised PT of Rs. 110, " the brokerage firm has stated.
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