Deutsche Bank added that it maintains it Buy rating on Hero Motocorp
We have collated a list of recommendations from various global brokerage firms for March 5.
Eicher Motors | Brokerage: Citi | Rating: Buy | Target: Rs 24,700
The brokerage maintained the Buy rating on the stock, slashing the target price to Rs 24,700 from Rs 25,200.
Deutsche Bank cut its FY19-21 earnings estimates for Eicher Motors by 2-3 percent.
"Discount to historical average trading multiple reflects uncertainty on volume growth," Deutsche Bank said in a research note.
Tata Motors | Brokerage: Macquarie | Rating: Outperform | Target: Rs 260
JLR's cost reduction plans will yield positive results in 2019, according to Macquarie.
"Average incentives increased due to an increase in incentives on Jaguar models," Macquarie added.
Tata Motors | Brokerage: Nomura | Rating: Neutral | Target: Rs 187
The brokerage has factored in a 12 percent decline in global wholesales for JLR in February, and a 10 percent decline in FY19 overall sales volumes.
A no-deal Brexit could create risks to demand, according to Nomura.
Coal India | Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 268
"Strong production growth of 7 percent in February implies an acceleration in recent months," Morgan Stanley said in a research note.
Deutsche Bank on two-wheelers
Domestic two-wheeler sales volumes have witnessed a third consecutive month of declines, the brokerage pointed out.
"Growth remains subdued off a strong base; motorcycles outperform," Deutsche Bank added.Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.The Great Diwali Discount!
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