Brokerage firm Jefferies maintained a buy on JB Pharma, Citigroup has a buy rating on Nestle India, CLSA recommended a sell on Nazara Technologies and Morgan Stanley maintained an Equal Weight rating on Trent.

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

Jefferies on JB Pharma: Buy| Target Rs 2000

Jefferies maintained a buy rating on JB Pharma but raised the target price to Rs 2000 from Rs 1970 earlier.

The results were in line with estimates, and the margin could continue to inch up. EBITDA margin improved on a QoQ basis as lower raw material (RM) prices were reflected in the quarter. FY25 margins are likely to remain strong.

Citigroup on Nestle India: Buy| Target Rs 2900

Citigroup maintained a buy rating on Nestle India post Q3 results with a target price of Rs 2900.The company reported steady revenue growth and guided for a margin expansion in Q4CY23.Investors need to monitor potential payments to the parent for support services.The global investment bank believes that price increases in parts of the portfolio and soft commodity prices will continue to drive profitability/earnings growth in the near term.

CLSA on Nazara Technologies: Sell| Target Rs 570

CLSA maintained a sell rating on Nazara Technologies post Q3 results and slashed the target price to Rs 570 from Rs 590 earlier.

The company reported a revenue miss in Q3. Nodwin leads e-sports ramp-up but posts Ebitda loss.

With Rs 1500 crore in cash, Nazara is seeking acquisition opportunities in real money gaming (RMG). It slashed FY24-26 forecasts by 10-24%, and the stock is expensive at 53x FY25 PE.

Morgan Stanley on Trent: Equal Weight| Target Rs 3675

Morgan Stanley maintained an Equal Weight rating on Trent but raised the target price to Rs 3675 from Rs 2307 earlier.

The Q3 remained a strong quarter. In the fashion segment, the company reported strong top-line growth and margins surprised positively.

The global investment bank raised F24-26 EBITDA forecasts by 14- 17% to factor in the better-than-expected Q3 earnings. The risk-to-reward ratio is balanced at current levels.

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

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