Houseviews: 7 stocks brokerages have their eyes on

Houseviews: 7 stocks brokerages have their eyes on
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Houseviews: 7 stocks brokerages have their eyes on
  • 
	Tata Motors

	Brokerage: Goldman Sachs

	Rating: Buy

	Target: Rs 332

	Rationale: The JLR management has given indications of a strong product pipeline, which has the potential to drive continued earnings upgrade cycle for Tata Motors.

    Tata Motors Brokerage: Goldman Sachs Rating: Buy Target: Rs 332 Rationale: The JLR management has given indications of a strong product pipeline, which has the potential to drive continued earnings upgrade cycle for Tata Motors.

  • 
	Sun Pharma

	Brokerage: Credit Suisse

	Rating: Outperform

	Target: Rs 625

	Rationale: Taro's annual report suggests that most of the cost cutting is sustainable, that equals a nearly 3% improvement in EBITDA margins. In fact, taro could be the vehicle for sun's entry into the U-S OTC market.

    Sun Pharma Brokerage: Credit Suisse Rating: Outperform Target: Rs 625 Rationale: Taro's annual report suggests that most of the cost cutting is sustainable, that equals a nearly 3% improvement in EBITDA margins. In fact, taro could be the vehicle for sun's entry into the U-S OTC market.

  • 
	Lupin

	Brokerage: Credit Suisse

	Rating: Outperform

	Target: Rs 580

	Rationale: The company has guided to launch about 10-12 oral contraceptives by FY13.

    Lupin Brokerage: Credit Suisse Rating: Outperform Target: Rs 580 Rationale: The company has guided to launch about 10-12 oral contraceptives by FY13.

  • 
	IVRCL

	Brokerage: Morgan Stanley

	Rating: Overweight

	Target: Rs 80

	Rationale: A potential takeover from the Essel Group could lead to the stock trading closer to its bull case in the near-team. Asset sales could help garner the much needed equity for BOT road projects which are not fully-funded as yet.

    IVRCL Brokerage: Morgan Stanley Rating: Overweight Target: Rs 80 Rationale: A potential takeover from the Essel Group could lead to the stock trading closer to its bull case in the near-team. Asset sales could help garner the much needed equity for BOT road projects which are not fully-funded as yet.

  • 
	Indiabulls Real Estate

	Brokerage: Morgan Stanley

	Rating: Overweight

	Target: Rs 88

	Rationale: Scale-up of operations and ramp-up in new launches at Worli, Lower Parel in Mumbai and Gurgaon will drive earnings. Key risk is unexpected worsening of balance sheet.

    Indiabulls Real Estate Brokerage: Morgan Stanley Rating: Overweight Target: Rs 88 Rationale: Scale-up of operations and ramp-up in new launches at Worli, Lower Parel in Mumbai and Gurgaon will drive earnings. Key risk is unexpected worsening of balance sheet.

  • 
	Havells

	Brokerage: JPMorgan

	Rating: Neutral

	Target: Rs 610

	Rationale: Nearly 16 times FY13 P/E captures the turnaround in Sylvania. They are likely to see a sharp pick-up in free cash flow going forward, and they believe that valuation sustainability from here on will be determined by the use of cash.

    Havells Brokerage: JPMorgan Rating: Neutral Target: Rs 610 Rationale: Nearly 16 times FY13 P/E captures the turnaround in Sylvania. They are likely to see a sharp pick-up in free cash flow going forward, and they believe that valuation sustainability from here on will be determined by the use of cash.

  • 
	BHEL

	Brokerage: CLSA

	Rating: Underperform

	Target: Rs 260

	Rationale: They have raised FY13 EPS by 9% to factor in lower costs. According to them lower staff costs and non operating income were supportive.

    BHEL Brokerage: CLSA Rating: Underperform Target: Rs 260 Rationale: They have raised FY13 EPS by 9% to factor in lower costs. According to them lower staff costs and non operating income were supportive.

  • 
	Tata Motors

	Brokerage: Goldman Sachs

	Rating: Buy

	Target: Rs 332

	Rationale: The JLR management has given indications of a strong product pipeline, which has the potential to drive continued earnings upgrade cycle for Tata Motors.
  • 
	Sun Pharma

	Brokerage: Credit Suisse

	Rating: Outperform

	Target: Rs 625

	Rationale: Taro's annual report suggests that most of the cost cutting is sustainable, that equals a nearly 3% improvement in EBITDA margins. In fact, taro could be the vehicle for sun's entry into the U-S OTC market.
  • 
	Lupin

	Brokerage: Credit Suisse

	Rating: Outperform

	Target: Rs 580

	Rationale: The company has guided to launch about 10-12 oral contraceptives by FY13.
  • 
	IVRCL

	Brokerage: Morgan Stanley

	Rating: Overweight

	Target: Rs 80

	Rationale: A potential takeover from the Essel Group could lead to the stock trading closer to its bull case in the near-team. Asset sales could help garner the much needed equity for BOT road projects which are not fully-funded as yet.
  • 
	Indiabulls Real Estate

	Brokerage: Morgan Stanley

	Rating: Overweight

	Target: Rs 88

	Rationale: Scale-up of operations and ramp-up in new launches at Worli, Lower Parel in Mumbai and Gurgaon will drive earnings. Key risk is unexpected worsening of balance sheet.
  • 
	Havells

	Brokerage: JPMorgan

	Rating: Neutral

	Target: Rs 610

	Rationale: Nearly 16 times FY13 P/E captures the turnaround in Sylvania. They are likely to see a sharp pick-up in free cash flow going forward, and they believe that valuation sustainability from here on will be determined by the use of cash.
  • 
	BHEL

	Brokerage: CLSA

	Rating: Underperform

	Target: Rs 260

	Rationale: They have raised FY13 EPS by 9% to factor in lower costs. According to them lower staff costs and non operating income were supportive.

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