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Last Updated : Mar 05, 2019 11:18 AM IST | Source: Moneycontrol.com

Brokerage Calls: Deutsche Bank retains 'Hold' on Bajaj Auto, Eicher Motors

Deutsche Bank added that it maintains it Buy rating on Hero Motocorp

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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.

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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

Deutsche Bank has a Buy call On Hero Motocorp and Hold on TVS Motor, Bajaj Auto and Eicher Motors.

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.

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First Published on Mar 5, 2019 11:17 am
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