Thursday's top brokerage calls: Zomato, Max Financial and Bank of Baroda
SUMMARY
According to Goldman Sachs, Zomato is well-placed to capture the accelerated shift to online in the food delivery space, while CLSA believes that Bank of Baroda will be the beneficiary of the corporate recovery cycle. Here are the top brokerage calls for today:
By CNBCTV18.com Nov 11, 2021 8:31:38 AM IST (Published)
Jefferies on Zomato | The brokerage noted that the management intends to exit non-core businesses with its focus shifting to 'build' from 'buy'. Jefferies has raised its revenue and loss estimates for the company.
CLSA on Max Financial | The company expects to maintain protection mix and margin despite reinsurance tightening, the brokerage said maintaining its 'buy' call on the company's shares.
CLSA on Bank of Baroda | CLSA believes that the lender will be the beneficiary of the corporate recovery cycle. The brokerage expects a 10.8-11 percent return on equity by FY23-24.
Goldman Sachs on Zomato | The company is well-placed to capture the accelerated shift to online in the food delivery space, according to Goldman Sachs. The brokerage said that the market is likely to reward growth over profitability for the foreseeable future.
