Buy, sell, hold: 2 stock upgrades by analysts post Q2 results
CLSA upgrades Motherson Sumi to buy from sell with target increased to Rs 375 from Rs 255 per share on overseas business should see growth acceleration over 2-3 years.
Here are two stocks that analysts have upgarded post Q2 while brokerage firms are bearish on one.
CLSA has upgraded it to buy from sell expecting an earnings turnaround. It has raised target to Rs 88 from Rs 73 per share on 7-14 percent on profit hike over FY17-19.
CLSA upgrades it to buy from sell with target increased to Rs 375 from Rs 255 per share on overseas business should see growth acceleration over 2-3 years. It expects society for maintenance and reliability professionals (SMRP) revenue to grow at a strong 17 percent CAGR over FY17-20. It sees 27 percent EPS CAGR in FY18-19.
CLSA retains sell call with target cut to Rs 438 from Rs 450 per share as demonetisation will impact ad revenue growth. It has lowered ad revenue estimates for H2 FY17 by 5 percent and FY18-19 by 2 percent.