Moneycontrol BureauHere are brokerage firms' views on 4 stocksGAILDeutsche Bank reiterates sell rating on expectation of a muted 4 percent volume growth in FY17 but increased target price by 9 percent to Rs 350 per share. Its gas transmission volume at 96.4 mmscmd in Q1 is led by higher LNG volume while low oil price is negatively impacting petchem profitability.
Jefferies maintains hold call with a target of Rs 382 per share while being cautious due to concerns around LNG contracts.
Bank of America Merrill Lynch has raised target price to Rs 380 from Rs 339 per share.
ONGCJP Morgan has neutral call on the stock with target at Rs 235 per share stating that the stock could see a positive reaction to Q1 results. It adds sustainability of cost reductions could be a key driver in FY17.
Duetsche Bank has a buy rating with target at Rs 260 per share. Its lower realisations was partially offset by cost reduction. It maintains buy on 29 percent EPS CAGR over FY16-18. Key risks are further decline in oil prices vagaries in government policy.
CLSA upgrades it to outperform from sell and raises target price to Rs 270 from Rs 195 per share. It has also raises EPS estimates by 34-35 percent.
Bank of America Merill Lynch raises target price to Rs 268 per share from Rs 254 per share. Credit Suisse maintains neutral call with target price of Rs 235 per share. SpiceJetCLSA has a sell rating on the stock with a target at Rs 35 per share. Q1 performance wasn’t a surprise to us, given a weak base in Q1FY16. Its margin is much lower than competitor IndiGo.
BHELJefferies retains underperform with target at Rs 90 per share as gross margin remained weak and order book is down. Macquarie maintains underperform rating with target of Rs 79 per share implying 43 percent downside. It says FY17 can be another challenging year on account of execution and margin.
JP Morgan maintains underweight with target revised to Rs 122 from Rs 120 per share stating that Q1 beat does not change the medium-term earnings outlook. Morgan Stanley is underweight on the stock with target at Rs 83 per share. Nomura maintains reduce rating wiht target unchanged at Rs 102 per share. Deutsche Bank has a buy rating on the stock with target increased by 6 percent to Rs 180 per share. Goldman Sachs has a sell rating with target unchanged at Rs 115 per share.
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