Brokerage firm Morgan Stanley maintained an Equal Weight rating on Crompton Greaves Consumer and an overweight rating on Bharat Forge. Jefferies recommended a hold rating on M&M and BofA Securities recommended a buy on Gland Pharma.

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

Morgan Stanley on CG Consumer: Equal Weight| Target Rs 281

Morgan Stanley maintained an Equal Weight rating on CG Consumer with a target price of Rs 281. The Q3 margin led to the overall miss; however, the top line was in line with estimates.

The margin decline in Electrical consumer durables (ECD) and Butterfly Gandhimathi Appliances led to an operational miss.

Morgan Stanley on Bharat Forge: Overweight| Target Rs 1346

Morgan Stanley maintained an overweight rating on Bharat Forge with a target price of Rs 1346. The global investment bank is of the view that the share price will rise relative to the country index over the next 30 days.

The company posted a good set of earnings in Q3. Moderation in growth is in line with estimates.

FY25 outlook excludes potential ATAGS gun order wins, turnaround in international subsidiaries and scale-up of new businesses.FY26 P/E of 25.5x looks attractive given the higher visibility on revenue and margins of new businesses.

Jefferies on M&M: Hold| Target Rs 1615

Jefferies maintained a hold rating on M&M but raised the target price to Rs 1615 from Rs 1580 earlier.

The company reported a good 3Q, but the tractor business downturn is intensifying. Tractor slowdown is intensifying after an elongated upcycle.

The auto order book has come off sharply in the last 3 months although the new order inflow is holding up well.

The stock is not cheap and is unlikely to deliver meaningful returns until tractor demand visibility improves.

BofA Securities on Gland Pharma: Buy| Target Rs 2200

BofA Securities maintained a buy rating on Gland Pharma but slashed the target price to Rs 2200 from Rs 2280 earlier.

The base momentum continues but Cenexi is a drag yet again. The core business performance remains healthy. Cenexi turnaround remains a key catalyst over the medium term.

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

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