Credit Suisse on L&T: Outperform| Target Rs 2250 Credit Suisse maintained an outperform rating on L&T post September quarter results with a target price of Rs 2250. Stronger traction on domestic execution and inflows bode well, it said. EBITDA margins were flat at the consolidated level.
CLSA on Tata Steel Downgrade to Sell| Target Rs 90
CLSA downgraded Tata Steel to sell with a target price of Rs 90 as Q2 results were below estimates. Profitability dropped sharply both in India and in Europe, it said. The global investment bank slashed FY23-25CL EBITDA by 18-25% on lower profitability Morgan Stanley on Aditya Birla Capital: Overweight| Target Rs 150 Morgan Stanley maintained an overweight rating on Aditya Birla Capital with a target price of Rs 150. The stock is on the path to becoming a steady compounder. Profitability across ABCL’s businesses has been improving which is a positive sign, it said. The global investment bank expects consolidated ROE to surpass 15% in FY25. It slashed forecasts but raised the price target.