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Hot stocks: Brokerages on Axis Bank and Gujarat Gas
UBS has upheld a buy rating on Axis Bank, raising the target price to Rs 1,250 from Rs 1,150. Recent underperformance, driven by sectoral headwinds and weak Q1 results, is expected to persist short-term. Structural changes may stabilize metrics, but a re-rating depends on stable credit quality and growth. The bank's current valuation discount to peers seems reasonable.