Brokerage calls: Trading tips on 4 stocks

Brokerage calls: Trading tips on 4 stocks
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Brokerage calls: Trading tips on 4 stocks
  • 
	ICICI Bank

	Brokerage: CLSA

	Rating: Buy

	Target: Rs 1090

	Rationale: While asset quality was stable, slower casa growth and fee were a tad disappointing. They have raised their profit estimates by 4-5%.

    ICICI Bank Brokerage: CLSA Rating: Buy Target: Rs 1090 Rationale: While asset quality was stable, slower casa growth and fee were a tad disappointing. They have raised their profit estimates by 4-5%.

  • 
	Axis Bank

	Brokerage: Morgan Stanley

	Rating: Equalweight

	Target: Rs 765

	Rationale: The key driver to stock performance in the next year is going to be asset quality and revenue trends. Concerns regarding asset quality, particularly with respect to SME and infrastructure are going to stay elevated through FY13 and FY14.

    Axis Bank Brokerage: Morgan Stanley Rating: Equalweight Target: Rs 765 Rationale: The key driver to stock performance in the next year is going to be asset quality and revenue trends. Concerns regarding asset quality, particularly with respect to SME and infrastructure are going to stay elevated through FY13 and FY14.

  • 
	Maruti

	Brokerage: CLSA

	Rating: Sell

	Target: Rs 1300

	Rationale: They see limited levers for margins to expand from fourth quarter levels and believe that FY13 EBITDA margins will be 8-8.5% at best. While car industry growth has improved, it could slip if discounts on petrol cars drop. 

    Maruti Brokerage: CLSA Rating: Sell Target: Rs 1300 Rationale: They see limited levers for margins to expand from fourth quarter levels and believe that FY13 EBITDA margins will be 8-8.5% at best. While car industry growth has improved, it could slip if discounts on petrol cars drop. 

  • 
	Siemens

	Brokerage: Daiwa

	Rating: Underperform

	Target: Rs 650

	Rationale: The company recorded an order inflow of 1800 crore in the last quarter, which was 43% below forecast. Daiwa feels there is limited growth in total order inflow from the current high base of last year.

    Siemens Brokerage: Daiwa Rating: Underperform Target: Rs 650 Rationale: The company recorded an order inflow of 1800 crore in the last quarter, which was 43% below forecast. Daiwa feels there is limited growth in total order inflow from the current high base of last year.

  • 
	ICICI Bank

	Brokerage: CLSA

	Rating: Buy

	Target: Rs 1090

	Rationale: While asset quality was stable, slower casa growth and fee were a tad disappointing. They have raised their profit estimates by 4-5%.
  • 
	Axis Bank

	Brokerage: Morgan Stanley

	Rating: Equalweight

	Target: Rs 765

	Rationale: The key driver to stock performance in the next year is going to be asset quality and revenue trends. Concerns regarding asset quality, particularly with respect to SME and infrastructure are going to stay elevated through FY13 and FY14.
  • 
	Maruti

	Brokerage: CLSA

	Rating: Sell

	Target: Rs 1300

	Rationale: They see limited levers for margins to expand from fourth quarter levels and believe that FY13 EBITDA margins will be 8-8.5% at best. While car industry growth has improved, it could slip if discounts on petrol cars drop. 
  • 
	Siemens

	Brokerage: Daiwa

	Rating: Underperform

	Target: Rs 650

	Rationale: The company recorded an order inflow of 1800 crore in the last quarter, which was 43% below forecast. Daiwa feels there is limited growth in total order inflow from the current high base of last year.

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