Emkay : “Coforge, Man Ind & Bandhan Bank: 10-26% Upside”

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Leading brokerage firms have recently released their coverage initiations on several prominent companies in the market. Emkay has recommended a buy rating on Man Industries, UBS has issued a neutral rating on Bandhan Bank, and Kotak Institutional Equities has suggested an ADD rating on Coforge.

Emkay on Man Industries

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Emkay has initiated coverage on Man Industries with a buy rating and a target price of Rs 500, representing a potential upside of 26% from the current price of Rs 394. The company is expected to experience significant growth with the implementation of two major projects and an increase in market share within the expanding industry.

UBS on Bandhan Bank

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UBS has given a neutral rating to Bandhan Bank with a target price of Rs 230, indicating a potential upside of 15% from the current price of Rs 200. Despite improved underwriting practices in recent microfinance disbursements, the bank is anticipated to face challenges in credit costs. The appointment of a new CEO and the impact of the Credit Guarantee Fund for Micro Units (CGFMU) are identified as key catalysts for the bank.

Kotak Institutional Equities on Coforge

Kotak Institutional Equities has initiated coverage on Coforge with an ADD rating and a target price of Rs 6000, suggesting a 10% upside from the current price of Rs 5439. The firm values the stock based on a 30X June 2026E EPS multiple and anticipates a strong 20.2% EPS CAGR in FY2024-27E, driven by organic revenue growth and margin expansion.

Overall, these recommendations from top brokerage firms provide valuable insights for investors looking to make informed decisions in the market.