Brokerage: Credit Suisse | Rating: Upgrade to Outperform | Target: Raised to Rs 600
The global research firm said that earnings were impacted due to revenue loss from some top clients. Further, challenges faced by Bluefin and Magnet also impacted earnings. It also believes that the challenges are now behind the company and it could witness attractive EBIT and earnings growth.
InterGlobe Aviation (IndiGo)
Brokerage: Motilal Oswal | Rating: Neutral | Target: Rs 1,291
The brokerage house said that long-term growth visible, but rising oil prices remain a threat and there could be engine issues impact in the near term growth too. Further, a strong order book assures long-term growth visibility, it added. The brokerage is also confident on the firm’s execution capabilities & profitability focus
Brokerage: CLSA | Rating: Outperform | Target: Rs 400
CLSA said that the management reiterated its FY20 topline guidance. It also continues to like its long-term growth story. The brokerage is also concerned about weakening auto demand in Europe.
Brokerage: Nomura | Rating: Buy | Target: Rs 442
Nomura said that it is convinced about the company’s ability to sustain strong growth momentum. The focus on RoCE and value addition will drive growth. It expects 38 percent EPS CAGR over FY18-20.
Brokerage: Goldman Sachs | Rating: Buy | Target: Rs 240
The brokerage said that Brazil opportunity opens up new avenue. Further, it highlighted that the stock is trading at FY19 P/E Of 10.5x.
Brokerage: Credit Suisse | Rating: upgrade to outperform from neutral | Target: Raised to Rs 425
The brokerage said that risk-reward remains favourable.
Brokerage: Deutsche Bank | Rating: Initiate call with Hold | Target: Rs 830
The global bank said that better growth fundamentals offset by B2B model & tighter competition. It expects combined ratio to exhibit modest improvement hereon and added that the competitive landscape is getting incrementally tighter.
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