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Brokerage calls: JPMorgan, Credit Suisse remain overweight on Tech Mahindra

Credit Suisse downgraded Wipro to Underperform from Neutral, reducing the target price to Rs 320 from Rs 370

February 27, 2019 / 12:06 PM IST
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We have collated a list of recommendations from various global brokerage firms for February 27.

TVS Motor | Brokerage: Deutsche Bank | Rating: Hold | Target: Rs 455

The brokerage upgraded the stock's rating to Hold, cutting the target price to Rs 455 from Rs 465.

TVS Motor may see a sustained increase in margin, according to Deutsche Bank.

Wipro | Brokerage: Credit Suisse | Rating: Underperform | Target: Rs 320


Credit Suisse downgraded Wipro to Underperform from Neutral, reducing the target price to Rs 320 from Rs 370.

"The company's margin may exhibit a bit of volatility even when on an absolute level," Credit Suisse said in a research note.

IndusInd Bank | Brokerage: Macquarie | Rating: Buy | Target: Rs 2,000

Strong franchise and merger benefits will enhance IndusInd Bank's earnings and multiples, said Macquarie.

"IL&FS overhang should be over in Q4," Macquarie added.

Deutsche Bank on cement

The margin cycle is turning favourable in South India, Deutsche Bank said in a research note.

The brokerage has upgraded Ramco Cements to Buy, raising the target price to Rs 750 from Rs 630.

Deutsche Bank added that it likes Dalmia Bharat, slightly raising the target price on the stock to Rs 1,310 from Rs 1,305.

Credit Suisse on IT sector

"Positive earnings surprises will be lower this year," according to Credit Suisse. The demand outlook for FY20 remains solid, the brokerage added.

HCL Technologies is Credit Suisse's top pick in the IT space.

Credit Suisse has an Outperform call on Tech Mahindra, and a Neutral rating on Infosys and TCS.

JPMorgan on IT sector

"Better revenue growth will help offset some of the margin concern," said JPMorgan.

The brokerage is overweight on Tech Mahindra and Infosys.

JPMorgan added that it prefers Mindtree and Mphasis among midcap stocks in the IT space.

Disclaimer: The above report is compiled from information available on public platforms. advises users to check with certified experts before taking any investment decisions

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Moneycontrol News
first published: Feb 27, 2019 12:06 pm
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