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Houseviews: Brokerages bullish on Idea, Patni, CESC
Goldman Sachs retains a buy on Idea with a target of Rs 86. They see a low probability of the Idea-Spice merger being cancelled. Idea remains well positioned to capitalise on the improving competitive dynamics and potential growth from 3G they feel.
Goldman Sachs retains a buy on Idea with a target of Rs 86. They see a low probability of the Idea- Spice merger being cancelled. Idea remains well positioned to capitalise on the improving competitive dynamics and potential growth from 3G they feel.
Morgan Stanley has downgraded Dish TV to equalweight and cut the price target to Rs 76 from Rs 90. The company may find it tough to beat on timing of profit turnaround, subscriber addition and ARPU growth. The stock has already outperformed the Sensex by 37% year to date and there is little scope for substantial positive surprise.
Credit Suisse has an outperfom stance on Patni with a target of Rs 410. The management has indicated that integration with iGate is on track. Credit Suisse believes an improving business model could result in consensus upgrades and rerating of stock multiples.
Citi maintains a buy on CESC , but has cut its target to Rs 440 from Rs 498. They feel investors are ignoring the two new projects, Chandrapur and Haldia phase-I. On the retail overhang, the brokerage feels if retailing losses come down or if there is any indication of a change in laws on FDI in retail, there could be a significant re-rating in the stock.
