What makes brokerages bullish on NTPC, ITC, Coal India

Here are how brokerages are trading the following stocks:

Coal India
Brokerage: Goldman Sachs
Rating: BUY
Target: Rs 375
Rationale: Media reports have indicated that the government might look at the option of a share buyback or special dividend to raise cash from the company. They believe risk-reward is compelling at the current stock price

ITC
Brokerage: Bank of America
Rating: BUY
Target: Rs 370
Rationale: The company sees a minimal risk to earnings as as the company continues to up cigarette prices and as distribution-led growth in FMCG continues. The company remains their top consumer pick.

NTPC
Brokerage: CITI
Rating: BUY
Target: Rs 172
Rationale: Post listing, NTPC has always underperformed the market when the market has given a positive return and outperformed when the market has given negative returns. This trend has been violated so far in CY13 with 14% underperformance. This is on account of the market adjusting to the realities of India's coal deficit, but with the stock trading close to 2 standard deviations below mean and ROES having bottomed out in FY12, the brokerage believes it is a time for investors to buy the stock.