stock recommendations: Hot Stocks: Citigroup Continues Sell on Vedanta; Macquarie recommends outperforming Siemens

The global brokerage maintained a sell rating on Citigroup, while Macquarie maintained an outperform rating.

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Citigroup at Vedanta: Sale | 235 target Rs

Citigroup maintained a sell rating on Vedanta with a target of Rs 235. Vedanta board declared 3rd interim dividend.

The 1st and 2nd interim dividends were Rs 51 per share. Vedanta’s dividend flow for FY23 will be $3.2 billion so far.

According to the broker, the dividend yield remains attractive. “Our outlook for aluminum and zinc is quite weak for the next few months,” it said in the note.

Macquarie at Siemens: The Advantage | Target Rs.3020

Macquarie maintained its outperform rating on Siemens with a target price of Rs 3,020, though margins and order flow were below expectations.

However, execution was in-line and the company recorded strong margin performance in Smart infrastructure, the broker said.

Energy and Mobility margins have been below 10% for the past two consecutive quarters, it added.

(Disclaimer: Recommendations, suggestions, views and opinions expressed by experts are their own. They do not reflect the views of Economic Times)