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Investment strategies: 5 brokerage firms views on 2 key stocks

Credit Suisse has downgraded Ashok Leyland to underperform as commercial vehicle volume may disappoint going forward. Target is cut to Rs 77 per share and FY17 volume growth is lowered to 12 percent from 22 percent.

August 02, 2016 / 13:47 IST
     
     
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    Here are brokerage firms' views on two key stocks:Ashok LeylandCLSA cuts FY17-18EPS estimates by 2-5 percent. It says stock is expensive at 18x 17 PE. It reiterates sell with a target of Rs 79 per share.  Credit Suisse has downgraded it to underperform as commercial vehicle volume may disappoint going forward. Target is cut to Rs 77 per share and FY17 volume growth is lowered to 12 percent from 22 percent. Tech Mahindra Citi maintains sell but cut target to Rs 460 from Rs 470 per share as growth lags peers and margin pressure continues. Macquarie is neutral with target at Rs 502 per share. It says dollar revenue growth in FY17 to be lower than FY16. DB has a buy call with a target at Rs 680 per share as fundamentals are seen improving.

    first published: Aug 2, 2016 08:49 am

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