SBI, Titan & more: Top stocks to watch on May 12

Morgan Stanley has an equal weight rating on SBI with the target price at Rs 980. Analysts said that the main focus during analysts call was on sharp decline in net interest margin (NIM). The bank’s management expects some recovery in NIM from Q4FY26 level, driven largely by loan yield recovery. Analysts expect some recovery, but cut FY27 NIM forecast by more than 20 basis points (100 basis points or bps = 1 percentage point). They also cut FY27 and FY28 earnings per share (EPS) forecasts by 4% and 2%, respectively. The management guided to FY27 loan growth of 13-15%, assuming no material macro deterioration. Goldman Sachs has a buy on Titan with the target price at Rs 5,400. Analysts said Titan reported domestic jewellery earnings before interest and taxes (EBIT) margin of 11.1% against investor expectations ranging from 10.5-11%. Within the domestic jewellery business, Tanishq, Mia, Zoya (TMZ) EBIT margin was 11.3% and Caratlane margin was 8.3%. They said the domestic jewellery EBIT growth was very healthy at 41% on the year (YoY). Titan's consolidated jewellery EBIT margin was 10%, down 100bps YoY as international business saw losses because of disruption in store operations in West Asia, and consolidation of Damas financials starting Q4FY26. The company’s management guided that international jewellery business could return to positive margin in 2-3 quarters. CLSA has an outperform rating on Bank of Baroda with the target price at Rs 335. Analysts said BoB’s Q4FY26 (PBT) was in line with estimates but had several one-offs including interest on IT refund, employee provision reversals and floating provisions. The lender’s core performance was mixed, they said. Loan growth picked up to 16.5% YoY and better than that of many of the banks. Deposit growth had marginally picked up to 12% YoY, while current account, savings account (CASA) ratio improved slightly QoQ. While the bank’s reported NIM improved 10bps QoQ, analysts believe it was driven by interest on IT refund, and core NIM would have declined. Management has guided to 2.75-2.95% NIMs in FY27 and expects similar interest on IT refunds through FY27 as well. Nomura has a buy rating on Swiggy with the target price at Rs 473. Analysts said the company’s strong growth in food delivery (FD) business continued while growth moderation in quick commerce reflects staying away from irrational competition. They said the company is well-funded to weather the competition in the QC business. At the current market price, investors are ascribing negative value to QC business, they think Swiggy needs to improve its execution toward profitability for the stock to do well from here. Analysts feel a key risk for the company is continued intense competition in QC. HBSC has a buy on Hyundai with the target price at Rs 2,400, from Rs 2,200 earlier. Analysts said the company’s market share recovery was a key growth driver. It announced two FY27 launches — an ICE SUV and an electric SUV — both critical to the company’s success. Currently Hyundai is at a cyclical l w, and analysts expect margins and volume recoveries from H2FY27. Also expect new launches and product stabilization at the Pune plant.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)