Kotak Institutional Equities has maintained its buy rating on State Bank of India (SBI) with a target price of Rs 1,250. Analysts noted that FY26 was another year of steady execution for the country's largest lender, with no negative surprises. The bank managed to navigate through continued net interest margin (NIM) compression, while loan growth and asset quality exceeded expectations. Although the growth versus NIM trade-off is expected to intensify, the bank's return on equities (RoE) should remain resilient despite these pressures. The stock's valuation is currently at a comfortable level, but further re-rating will require more conviction on the sustainability of RoE, according to analysts.
Goldman Sachs on Interglobe Aviation
Goldman Sachs has issued a buy rating on Interglobe Aviation (IndiGo) with a target price of Rs 5,300. Following a management meeting, analysts highlighted several key takeaways. IndiGo remains well-positioned for growth, supported by its outstanding order book of approximately 900 aircraft, compared to its current fleet size of 441, with a larger focus on international routes. The airline expects to achieve a 40% international mix by FY30, up from 32% in FY26. This target comes despite single-digit capacity growth in FY27 due to recent fuel price disruptions. In the near term, management indicated that yields are likely to remain strong amid significant cost-side pressures. For FY27, IndiGo expects capacity growth in the single digits on a year-on-year basis.
HSBC on Nestle India
HSBC has assigned a hold rating on Nestle India with a target price of Rs 1,450. Analysts observed that the company's milk products and nutrition (MPN) segment recorded only 1% year-on-year revenue growth in FY26, even as other segments delivered robust performance. Nestle's push for rural expansion was evident, while advertisement and marketing expenses grew 27% year-on-year in FY26. Despite having a strong portfolio, growth upgrades appear challenging, and valuations remain steep.
Jefferies on Infosys
Jefferies has maintained a hold rating on Infosys with a target price of Rs 1,235. According to analysts, the company's annual report analysis outlines its strategy to evolve from a tech-implementer to a value-orchestrator. The sharp increase in research and development spending reflects Infosys' focus on building artificial intelligence capabilities, while the continued rise in software costs for internal use indicates intensifying efforts to automate delivery. The share of employees below the age of 30 years has reached a 15-year low, reflecting increasing work complexity. With the CEO's second term ending in March 2027, attention will shift to succession plans.
Motilal Oswal on Gabriel India
Motilal Oswal Securities has initiated coverage on Gabriel India with a buy rating and a target price of Rs 1,266. Analysts believe the company is transforming into a scalable and diversified mobility platform, offering a significantly larger growth runway. Gabriel India is gaining traction in the suspension business, and recent restructuring initiatives are driving long-term shareholder wealth creation. The strategic integration of Dana Anand is expected to drive scale, while there is scope for broadening market presence through the Henkel Anand India integration. Analysts feel the company is building its next growth pillars by diversifying beyond suspensions through adjacencies and joint ventures. The company boasts a net cash balance sheet, lean working capital, and strong return ratios.
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