Brokerage Radar: Analyst Calls on Zomato, GAIL, Oberoi Realty, and More

Top brokerage firms have released their latest insights on notable stocks such as Zomato, GAIL, and Oberoi Realty, along with some others. As the real estate sector continues to show promising growth, companies like Zomato in the quick commerce space are setting the pace ahead of their competitors. Analysts maintain a cautiously optimistic stance, focusing on opportunities in certain sectors while also considering valuation concerns in the broader market. Here’s a summary of the significant recommendations from analysts.

Zomato (CMP: Rs 280)

CLSA: Outperform; target increased to Rs 370 from Rs 353.

• Strong growth in Blinkit’s quick commerce (122% YoY), compared to Swiggy’s (76% YoY).

• Zomato is currently 81% larger than Swiggy in the quick commerce industry.

Morgan Stanley: Overweight, target at Rs 355.

Bernstein: Outperform, with a target of Rs 335.

GAIL (CMP: Rs 199)

Jefferies: Buy; target adjusted to Rs 235 from Rs 240.

• India's strong gas demand outlook is supported by new production and pipeline expansions.

• EBITDA CAGR is projected at nine percent over the period FY24-27.

Morgan Stanley: Overweight; target decreased to Rs 248 from Rs 258.

Oberoi Realty (CMP: Rs 2060)

Nomura: Buy; target remains at Rs 2,500.

• Expecting a forty percent CAGR in pre-sales over FY24-27.

• Projected annual operating cash flows of Rs 3,000-4,000 crore until FY27.

Cement Sector

Goldman Sachs:

• Ultratech Cement: Buy; target up to Rs 12,460.

• Shree Cement, Dalmia Bharat, Ambuja Cement: Neutral.

• ACC: Sell; target raised to Rs 2,345.

Supreme Industries (CMP: Rs 4,763)

Jefferies: Buy; target set at Rs 6,450.

• Expected twenty-two percent EPS CAGR over FY24-27.

• Pipes capacity anticipated to grow by thirteen percent YoY by FY25.

Dixon Technologies (CMP: Rs 16,866)

CLSA: Outperform; target raised to Rs 18,800 from Rs 12,100.

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