Hot Stocks: Citigroup maintains sell on Vedanta; Macquarie recommends outperform on Siemens
We have collated a list of recommendations from top brokerage firms from ETNow and other sources:
Citigroup on Vedanta: Sell | Target Rs 235
Citigroup maintained its sell rating on Vedanta with a target of Rs 235. Vedanta’s board has announced a 3rd interim dividend.
The 1st and 2nd interim dividend was of Rs51 per share. Vedanta’s dividend outflow for FY23 thus far would amount to $3.2bn.
According to the brokerage, the dividend yield remains attractive. “Our outlook for aluminium and zinc is fairly muted for the next few months,” said the note.
Macquarie on Siemens: Outperform | Target Rs 3020
Macquarie maintained its outperform rating on Siemens with a target price of Rs 3,020 even though margins and order inflow disappointed were below expectation.
However, the execution was in-line and the company recorded a strong margin performance in Smart infrastructure, the brokerage said.
Energy and Mobility margins were below 10% for the last two consecutive quarters, it added.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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