Houseviews: Four stocks to watch out for

Houseviews: Four stocks to watch out for
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Houseviews: Four stocks to watch out for
  • 
	ITC

	Brokerage: Goldman Sachs

	Rating: Buy

	Target: Rs 232

	Rationale: ITC would have to increase prices by 8-8.5% in order to offset the increases in excise and VAT. ITC will be able to successfully execute price increases and maintain its growth in profitability as the price increases needed are in line with past increases.

    ITC Brokerage: Goldman Sachs Rating: Buy Target: Rs 232 Rationale: ITC would have to increase prices by 8-8.5% in order to offset the increases in excise and VAT. ITC will be able to successfully execute price increases and maintain its growth in profitability as the price increases needed are in line with past increases.

  • 
	Tata Steel

	Brokerage: Morgan Stanley

	Rating: Overweight

	Target: Rs 566

	Rationale: They have raised the target to 566. They expect to see solid improvement in Tata’s profitability and balance sheet owing to restructuring and improving backward integration at European operations.

    Tata Steel Brokerage: Morgan Stanley Rating: Overweight Target: Rs 566 Rationale: They have raised the target to 566. They expect to see solid improvement in Tata’s profitability and balance sheet owing to restructuring and improving backward integration at European operations.

  • 
	Maruti

	Brokerage: Morgan Stanley

	Rating: Equalweight

	Target: Rs 1181

	Rationale: The Maharashtra Budget has proposed a 2% hike in tax for petrol vehicles and 4% hike in tax for diesel vehicles. Maharashtra forms about 15% of pan India sales for Maruti and this could lead to a volume slowdown in the coming months.

    Maruti Brokerage: Morgan Stanley Rating: Equalweight Target: Rs 1181 Rationale: The Maharashtra Budget has proposed a 2% hike in tax for petrol vehicles and 4% hike in tax for diesel vehicles. Maharashtra forms about 15% of pan India sales for Maruti and this could lead to a volume slowdown in the coming months.

  • 
	Infosys

	Brokerage: UBS

	Rating: Neutral

	Target: Rs 3250

	Rationale: Post the revenue guidance cuts in FY12, while it is unlikely, there is a fear, that Infosys could stop its practice of providing either full year or quarterly guidance. Such a move could further compress multiples for the stock.

    Infosys Brokerage: UBS Rating: Neutral Target: Rs 3250 Rationale: Post the revenue guidance cuts in FY12, while it is unlikely, there is a fear, that Infosys could stop its practice of providing either full year or quarterly guidance. Such a move could further compress multiples for the stock.

  • 
	ITC

	Brokerage: Goldman Sachs

	Rating: Buy

	Target: Rs 232

	Rationale: ITC would have to increase prices by 8-8.5% in order to offset the increases in excise and VAT. ITC will be able to successfully execute price increases and maintain its growth in profitability as the price increases needed are in line with past increases.
  • 
	Tata Steel

	Brokerage: Morgan Stanley

	Rating: Overweight

	Target: Rs 566

	Rationale: They have raised the target to 566. They expect to see solid improvement in Tata’s profitability and balance sheet owing to restructuring and improving backward integration at European operations.
  • 
	Maruti

	Brokerage: Morgan Stanley

	Rating: Equalweight

	Target: Rs 1181

	Rationale: The Maharashtra Budget has proposed a 2% hike in tax for petrol vehicles and 4% hike in tax for diesel vehicles. Maharashtra forms about 15% of pan India sales for Maruti and this could lead to a volume slowdown in the coming months.
  • 
	Infosys

	Brokerage: UBS

	Rating: Neutral

	Target: Rs 3250

	Rationale: Post the revenue guidance cuts in FY12, while it is unlikely, there is a fear, that Infosys could stop its practice of providing either full year or quarterly guidance. Such a move could further compress multiples for the stock.

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