Whalesbook
Analyst ka Latest Move: M&M, Lenskart, Embassy REIT Pe Focus!
Jefferies ne aaj teen companies par apni 'Buy' rating maintain rakhi hai, aur inke liye ekdum solid targets set kiye hain.
Mahindra & Mahindra (M&M) ke liye toh bhaiyya, pichle 15 quarter se lagaatar double-digit EBITDA growth chal raha hai! December quarter mein 27% ka YoY jump dikhaya hai, aur tractor, SUV, aur LCVs mein market share bhi badh raha hai. Jefferies ko lagta hai ki FY26 mein core EPS 30% badhega, aur FY28 tak CAGR 15% rahega. Company par ek bhi rupaya debt nahi hai, matlab ekdum zero-debt status, aur ROE bhi 17.18% hai, jo kaafi accha hai. Par haan, auto sector mein FY26 ke liye thodi moderate growth (1-4%) aur inventory levels ka pressure bhi hai. Aur 2027 tak future fuel efficiency norms ko poora karna bhi ek challenge ho sakta hai. Jefferies ne iska target price ₹4,500 rakha hai, jabki Morgan Stanley thoda cautious hai aur target ₹4,358 de raha hai. M&M ka P/E ratio TTM lagbhag 26.1x hai.
Lenskart toh bhai, 'AI-powered eyewear plus data company' banne ki race mein hai! Q3 FY26 mein inka profit after tax 237% badhkar ₹133 crore ho gaya, aur revenue 38% bhadkar ₹2,307 crore ho gaya. Iske peeche sabse bada reason hai AI pe lagaatar investment, jisse customer experience aur efficiency badh rahi hai. Ab yeh log ekdum bade IPO ki taiyari mein hain, jisme valuation $10 billion tak jaa sakti hai. Abhi tak $1.08 billion se zyada funding mil chuki hai aur FY25 mein revenue ₹7,010 crore tha. Jefferies ka iske liye target price ₹575 hai. Lekin India mein e-commerce growth thoda slow ho raha hai, sirf 10-12% chal raha hai macroeconomic pressures ke karan.
Embassy REIT bhi Jefferies ki nazar mein hai, target price ₹508 ke saath. Bangalore aur Mumbai mein quality office spaces ki demand kaafi acchi hai. REIT ne 10% DPU growth aur 19% NOI increase report kiya hai. FY25 mein NOI 10% YoY badhne ka estimate hai aur DPU ₹22.4-23.1 ke beech reh sakta hai. FY2026 tak occupancy 90-91% ho jayegi. Bangalore toh office space demand mein sabse aage hai. Indian REIT market mein yield 6-8% mil raha hai, jo attractive hai. Par haan, iska TTM P/E ratio lagbhag 135.49x hai, jo kaafi high hai, aur interest rates badhne ka risk bhi hai jo borrowing costs badha sakta hai.
Par Bhai, Sab Kuch Itna Bhi Smooth Nahi Hai...
Jefferies toh bullish hai, par kuch risks hain jin par nazar rakhni hogi. M&M ke liye auto sector ka slowdown aur fuel efficiency norms ek bada challenge ho sakte hain. Lenskart ka $10 billion ka IPO valuation uske AI strategy par depend karta hai, jiska execution test hona baaki hai. Embassy REIT ke liye, interest rates ka upar jaana borrowing costs ko badha sakta hai aur property valuations ko affect kar sakta hai. Aur REIT sector mein interest rate sensitivity ek permanent risk rehti hai.
Aage Kya Dekhna Hai?
Jefferies ki ratings se lagta hai ki yeh companies short-term mein acchi performance dikha sakti hain. M&M apne products aur market share se fayda uthayega, jabki Lenskart AI aur IPO ke dum par aage badhne ki koshish karegi. Embassy REIT ko office demand ka support milega. Ab dekhte hain yeh companies apne targets ko kaise achieve karti hain market ki uncertainties ke beech!