These five stocks saw biggest increase in their target price post Q2 earnings
New Delhi: With corporate earnings yet to show any signs of revival, analysts have been very conservative about increasing their price target on stocks these days. However, they have been prompt in cutting target prices at the slightest evidence of stress.
Despite this situation, few companies have witnessed increase in their target price by analysts after they reported their earnings for the September quarter.
Here are five stocks according to a leading business daily that has witnessed the biggest rise in their target price post September quarter results.
HDFC ASSET MANAGEMENT COMPANY
The largest AMC in India reported a 79% jump in profit after tax at ₹368.3 crore in the quarter ended September. The stock is trading at three times its issue price of Rs 1,100. While the AMC has seen one of the biggest target price increases in recent weeks, many believe the upside is limited. “HDFC AMC is the best placed to capitalise on the long-term growth opportunity in India’s mutual fund industry…But near-term upside is limited, given the recent re-rating,” te publication quoted IIFL Securities as saying in a note.
WHIRLPOOL OF INDIA
Analysts said Whirlpool’s second-quarter results were ahead of estimates. “Q2FY20 was a robust quarter for Whirlpool, likely boosted by pre-festival sales in September 2019 as well,” the brokerage said. Whirlpool’s net profit rose 63.8% to Rs 128.7 crore in the September quarter. Though the consensus target price increased by 26% after September quarter results, analysts believe valuations are stretched at 40 times FY21 estimates.
MANAPPURAM FINANCE
The company’s consolidated profit jumped 82% in the September quarter to Rs 402.3 crore, which led to a 20% increase in consensus target price. “Pick-up in gold-loan in the coming quarters, higher gold prices and favourable regulatory environment will act as a positive catalyst. We believe that the company has the potential to deliver 20% plus RoE (return on equity) driven by RoA of 4% plus,” the publication quoted DBI Capital as saying. The brokerage maintained buy rating on the stock with a target price of Rs 195.
NARAYANA HRUDAYALAYA
Net profit of Narayana Hrudayalaya rose 233.80% to Rs 45.33 crore in the quarter ended September as against Rs 13.58 crore in the same quarter last year. “NARH remains the best-positioned hospital to benefit from the formalisation of large latent demand. The past three quarters have shown better execution and improved margins. Management has also said it is not looking at further capex,” said Jefferies in a note last week, retaining its buy rating and target price of Rs 340.
DR LAL PATHLABS
The company’s consolidated profit in the September quarter rose 41.4% at Rs 81 crore. “We believe that the long runway and good visibility on growth and high return on capital employed (RoCE) should continue to support premium multiples. We believe that the long runway and good visibility on growth and high RoCEs should continue to support premium multiples,” said Citigroup, raising its target price on the stock to Rs 1,700 from Rs 1,475.
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