Jefferies has a buy rating on Adani Enterprises with the target price cut to Rs 2,600 from Rs 2,750. Analysts said Adani Airports is facing near term traffic softness, delaying Navi Mumbai International Airport (NMIAL) ramp-up, but non-aero revenues and airport-led real estate monetisation continue to build. They also said that the company’s new energy business is benefiting from energy-security tailwinds, with solar capacity expansion at Mundra potentially driving earnings before interest, taxes, depreciation, and amortisation (EBITDA) uplift from FY27. They also feel that the copper and road businesses will also see ramp up during FY27. Factoring in the impact of geopolitical headwinds, analysts pruned the EBITDA estimate by 3-7%.Citigroup has a buy rating on HAL with the target price at Rs 5,560. Analysts said HAL and GE Aerospace have reached an agreement on technical matters for co-production of F414 engines in India, a key development since the original MoU was signed in 2023. Commercial negotiations are expected to conclude by Dec 26-Mar 27. This engine will potentially power Tejas Mk2 (100+ aircraft) and the first two squadrons of AMCA Mk1. While commercial formalization timelines and execution risks remain key watch items, analysts see this development as a medium-term positive for HAL.Macquarie has an underperform rating on Aurobindo Pharma with the target price at Rs 1,050. Analysts said that the company’s subsidiary, TheraNym Biologics, has announced a further agreement with Merck to expand existing biologics contract manufacturing relationship initiated in May 2024. As part of this expansion, TheraNym will set up a greenfield biologics drug substance manufacturing facility with an aggregate bioreactor capacity of 60,000 litres. The company plans to invest approximately $150–175 million. Analysts believe the expanded scope of work from the same innovator further validates Aurobindo’s capabilities across biologics drug substance and drug product manufacturing. While they believe this agreement is positive, any meaningful financial upside from the current contract is still 3-4 years away.HSBC has a buy rating on Trent with the target price cut to Rs 4,800 from Rs 5,300. Analysts feel achieving about 200 store additions for Zudio for FY26, despite productivity moderation, gives visibility for FY27 and ahead. Performance triggers for the company are sustained 18-20% growth and no negative impact from cannibalisation or competition. They estimated a 4% like-for-like growth in Zudio for FY27.Morgan Stanley maintained its overweight rating on Aditya Birla Capital with the target price at Rs 405. Analysts said the company’s housing finance subsidiary delivered strong loan growth of 48% on the year. Its net interest income growth was strong but slightly below expectations while profit growth was robust, supported by operating leverage. The company’s asset quality improved with lower gross and net NPAs, and provisioning declined significantly supporting earnings. Analysts believed the company’s operating performance was slightly below estimates but overall trajectory was strong.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
