HSBC has a buy on Dr Reddys Labs with the target price at Rs 1,430. Analysts said that the semaglutide opportunity is intact for Dr Reddy’s in Canada, and it has replied to Health Canada’s queries on its application. GLP-1 drugs class remains the company’s focus segment and it is making progress in long-term drivers like biosimilars. Health Canada approval for generic semaglutide will be a key catalyst for the stock.Goldman Sachs has a buy on Titan with the target price at Rs 4,500. Analysts said the company expects a 15-20% growth in its jewellery business in the medium term. The company is maintaining jewellery margins despite headwinds. Its consolidated earnings before interest and taxes (EBIT) growth is ahead of standalone jewellery EBIT growth, driven by the strong trajectory of Caratlane, watches and other businesses. Titan’s eyewear business is strong in the premium segment and it is exploring how to address the mass market opportunity.Bernstein has and outperform rating on Trent with the target price cut to Rs 5,000. Analysts said they believe that the company’s revenue growth now is at a bottom. From here on the key drivers of recovery are like-for-like for split stores turns positive with base effect, about 20% compounded annual growth rate in Zudio network for three years, improved consumer demand cycle and growth in Westside business. On the other hand the key risk remains the competitive upsurge (more stores and replicating Zudio’s fashion sense and demand pull).CLSA has an outperform rating on Power Grid Corp with the target price at Rs 342. Analysts said that the company’s entry into the battery energy storage systems (BESS) should be a positive surprise with it emerging as a preferred bidder for a 150MW project. The company’s strategy of entering adjacencies such as BESS inside a transmission substation as it is likely to win the BESS concession at 11% above the price of lowest bid. They expect the company to scale-up its BESS portfolio to multi-GW with its competitive advantage of a 100 basis points (= 1 percentage point) lower interest rate versus private competitors.Macquarie has an outperform rating on ITC with the target price at Rs 480. Analysts said that the govt is proposing a new cess on cigarettes, which is likely to replace the compensation cess. This new levy increases uncertainty on taxation for the players, analysts said. In turn this could involve a transition period for things to adapt and normalise to any new system.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
