Citigroup maintained its buy rating on Maruti Suzuki and increased its target price to Rs 19,000 from Rs 18,900 previously. Analysts said they would make minor changes to their estimates for the company’s numbers to reflect recent strong volume growth. They increased volume growth for Maruti for FY26-FY28 by 2-3% and reduced margin assumptions, resulting in slightly lower gross margins. They said the company’s earnings before interest and tax (EBIT) and FY26-28 earnings estimates were increased by 0-1%.CLSA has upgraded its rating on JSW Energy to ‘Hold’ with a target price of Rs 486. Analysts said the stock has underperformed the market by 35% over the past 12 months. They believed that this underperformance had offset the recurring 17% decline in net income despite the thermal power acquisition, largely because the Supreme Court had overturned a flawed regulatory order restricting commercial hydropower volumes along with higher financing costs from leveraged M&As. The promoters have stepped in to address the company’s aggressive leverage with an equity infusion of Rs 3,000 crore and a potential additional equity capital of Rs 10,000 crore. Analysts said that while JSWE’s transition has slowed due to the move into coal assets, this low-float stock is rich at current valuations.Nuvama has a Buy rating on Amber Enterprises with a target price of Rs 9,100. Analysts said management reiterated its forecast, implying strong industry outperformance of 13 to 15 percentage points in consumer durables, excellent traction in electronics and gradual improvement in mobility. Management also highlighted stronger backward integration and recent acquisitions that strengthen Amber’s capabilities and margin profile in the electronics business. Analysts say factoring in recent acquisitions and raw material cost inflation results in a modest decline in EPS of 6% and 2%, respectively, in FY26/27.Jefferies has a Buy rating on TBO Tek, with the price target raised to Rs 1,950 from Rs 1,800 previously. Analysts said management emphasized the continued relevance of offline agents amid rising demand for luxury and experiential travel. TBO is scaling AI tools to empower advisors, while partners like Emirates and Hilton value the company’s reach, curated content and depth of service. As key account manager investments are scaled back, a turnaround in margins is underway.Morgan Stanley has initiated coverage on Lenskart Tech at the same weight and a target price of Rs 445. Analysts said Lenskart is a unique play with changing lifestyle dynamics and is largely insulated from macroeconomic headwinds. They believe that the company’s leading position and fully integrated business model make it comparable to India’s Essilor Luxottica (the world’s leading eyewear manufacturer). However, the stock is fairly valued at its current level.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips from experts are their own. These opinions do not reflect the views of The Times of India.)
