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Goldman Sachs reiterates a sell on Wipro with a target of Rs 345. Despite initial signs of a recovery, a complete turnaround in Wipro's growth profile will be prolonged on account of moderating client spend.
June 12, 2012 / 11:01 IST
Goldman Sachs reiterates a sell on Wipro with a target of Rs 345. Despite initial signs of a recovery, a complete turnaround in Wipro's growth profile will be prolonged on account of moderating client spend.
CLSA recommends buying BPCL with a target of Rs 900. Positive drilling and development related news flow will aid stock price performance. Stock price is not building any value for the refining business at the moment. Citi downgrades Suzlon to sell with the target cut to Rs 15. Despite a rebound in inflows in FY12, poor execution in the wind turbine generator division is preventing any meaningful reduction in losses. Nomura recommends buying Voltas, but has cut its target to Rs 125. While West Asian business is reviving, new projects continue to be bid at 4-5% margin levels which could keep earnings under pressure. Bank of America Merrill Lynch has upgraded Indiabulls Real Estate to neutral and raised the target to Rs 64. They believe that the worst for the Mumbai residential market is over. the aggressive launch pipeline in other locations, especially Gurgaon, should aid volume growth in FY13.Morgan Stanley is underweight on Educomp. They have cut its target to Rs 102 from Rs 210. The change in management team post the resignation of the CFO could lead to near-term disruptions dragging on revenue and margin performance. Bank of America Merrill Lynch have an underperform rating on Tata Power with a target of Rs 100. The net impact of lower ASP and higher volumes could impact the company's FY13 consolidated EBITDA by 3% and profits by 7%.CLSA has a sell rating on Jet Airways with a target of Rs 290. While the company is partially hedged due to forex linked revenues in its international business, the net exposure is still higher. The depreciating currency is driving cost pressures, with significant increases in airport charges in select Indian airports.Morgan Stanley has an overweight on HCL Tech with a target of Rs 510. They believe there could be a change in management responsibilities in the near future, and it could be announced as early as July-August along with the full-year results. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
