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analysts update recommendations and price targets for key european companies
Analysts have made several notable recommendations, including Kempen maintaining a Buy on Abivax but lowering the price target to USD 18. RBC Capital upgraded Anglo American to Sector Perform with a target of GBX 2310, while JP Morgan raised ArgenX's target to USD 805. Bernstein upgraded Veolia to Outperform with a target of EUR 38, and maintained Outperform for Dassault Aviation with a new target of EUR 305. Other adjustments include Eiffage's target raised to EUR 158.90 and UBS Group's target reduced to USD 35.
Zomato and Swiggy Shares Surge to Record Highs Following Brokerage Upgrades
Shares of Zomato and Swiggy surged to record highs on December 5, following brokerage upgrades. CLSA raised Zomato's target price to Rs 370, predicting a 32% upside, while Bernstein noted Zomato's broader city presence. Swiggy's Q2 results showed a 30% year-on-year increase in B2C gross order value, with expectations of positive core earnings by December 2025.
IT sector poised for growth driven by BFSI and AI deals
IT stocks have gained traction, with the Nifty IT Index rising nearly 5% over the past month. Bernstein analysts predict a growth upcycle driven by BFSI and AI-related deals, favoring companies like Infosys and TCS for their strong US market exposure, while mid-cap players like Persistent Systems are also expected to benefit significantly.
Paytm stock surges 6 percent on positive outlook from Bernstein
Shares of Paytm parent One97 Communications surged 6% to Rs 893 on November 22, marking a five-day rally and a 56% gain over the past three months. International brokerage Bernstein has raised its target price for Paytm from Rs 750 to Rs 1,000, citing a shift in outlook from survival to optimism for the fintech company. In a bullish scenario, Bernstein anticipates improved payment margins and a potential 100% upside to its base case EPS estimates.
Bernstein has reaffirmed its bullish outlook on Paytm's parent company, One97 Communications, raising the target price from Rs 750 to Rs 1,000 per share, indicating a potential upside of 23%. Despite a challenging year with an 11% decline in share value, Paytm's stock was trading at Rs 819.4, up 0.6% amid muted market sentiment.
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