Brokerage: Kotak Instl Eq | Rating: Add | Target: Unchanged at Rs 285
The brokerage house expects growth to pick up for Starbucks this year and values the JV at Rs 31 per share. It likes the company’s focus on cost management and restructure of non-core business.
Brokerage: Edelweiss | Rating: Buy | Target: Cut to Rs 110
Edelweiss said that thermal ordering or demand hasn’t picked up, which remains a key monitorable. It sees FY19/20 earnings visibility improved with potential for further improvement. Further, the firm believes that debtor recovery witnessed in FY17 to continue going forward.
RBI Policy
Brokerage: Credit Suisse
The research firm said that the bar continues to be set high for rate cuts. Further, it added that a growth disappointment may warrant one rate cut. It reads the slight increase in inflation estimates as an adjustment to higher oil prices. It also expects CPI inflation acceleration by year-end. It is less concerned about fiscal risks that the central bank has highlighted.
Brokerage: Credit Suisse | Rating: Initiate Coverage with Outperform | Target: Rs 1,150
The global research firm said that the company is strongly placed in the custom synthesis & manufacturing, while orderbook provides visibility. The company’s focus on specialty products in the domestic market as a key differentiator.
Brokerage: UBS | Rating: Neutral | Target: Raised to Rs 8,500
UBS thinks that the stock could remain rangebound given recent ROIC improvement. It sees 1.5:1 upside skew in the stock's risk-return profile. It estimates upside value of Rs 9,500 and if headwinds worsen, it sees downside value of Rs 6,500.
Brokerage: Citi | Rating: Buy | Target: Rs 610
Citi said that consolidation will enhance in-cinema ad opportunity. Earnings delivery and execution is the key to stock performance, it said, adding that variance in Qube’s audited actual numbers and slower government ads are among other risks.
BSE
Brokerage: Nomura | Rating: Initiate Coverage with Neutral | Target: Rs 1,000
The brokerage things large part of the company’s business value is driven by its non-core segment. A significant ramp-up in core EBIT may be only partly sustainable. Over FY17-20, we expect 4% CAGR in core EBIT. Excluding revenues from illiquid segment, it expects 11 percent CAGR.
Brokerage: Motilal Oswal | Rating: Neutral | Target: Rs 764
Motilal Oswal said that Apache RR310 priced At Rs 2.05 Lakh (ex-showroom), is a premium of over 40% to Dominar. The company expects to sell 10,000 Apache RR310 bikes worldwide in the first year. According to its estimates, the firm could sell 15,000 units in FY19. The brokerage is positive on the firm since coverage initiation in November 2013. Further, it likes the continued improvement in competitive positioning and financial performance.
Brokerage: Motilal Oswal | Rating: Buy | Target: Rs 200
The brokerage said that the firm is gearing up for next phase of growth. Further, JV business will be impacted in the near term due to deferral of sales as a key client. Impact of ramp-up in production in traditional business will be visible over the next 12-18 months. It believes that the stock has potential to deliver >50% return in 12-18 months.
Brokerage: HSBC | Rating: Downgrade to Hold | Target: Cut to Rs 200
HSBC said that CBI filed a chargesheet against the firm, promoter, arm in land grab case. In the past, the stock has reacted negatively to such newsflow.
Brokerage: CLSA | Rating: Sell | Target: Rs 390
The brokerage said that Tildrakizumab may witness strong competition from Risankizumab. Further, an early generic competition in Restasis is a major risk for Seciera.
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