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Foreign brokerages cut target price on these 5 stocks; do you own any?

SBI Cards, Maruti Suzuki and Britannia are among the stocks for which foreign brokerages have reduced targets post muted earnings

May 03, 2021 / 11:52 AM IST
Market gained 2 percent on the back of decent earnings from the Indian Inc, however, continued record daily increase in COVID-19 cases led some profit booking in the last session of the week ended April 30. Here are the companies in which foreign broking houses cut the target price post their March quarter results.
Market has been volatile lately due to the rising concerns around intensifying COVID second wave and resultant localised lockdowns. The action has mostly been stock-specific driven by corporate earnings and a company's ability to deal with the coronavirus crisis. Here are the companies in which foreign brokerages have cut target price post their March quarter results.
Mahindra & Mahindra Financial Services | Brokerage: Morgan Stanley | Rating: Overweight | Target: Cut to Rs 240 from Rs 255
Mahindra & Mahindra Financial Services | Brokerage: Morgan Stanley | Rating: Overweight | Target: Cut to Rs 240 from Rs 255
SBI Cards | Brokerage: Morgan Stanley | Rating: Overweight | Target: Cut to Rs 1,200 from Rs 1,300
SBI Cards | Brokerage: Morgan Stanley | Rating: Overweight | Target: Cut to Rs 1,200 from Rs 1,300
HCL Technologies | Brokerage: CLSA | Rating: Buy | Target: Cut to Rs 1,150 from Rs 1,220
HCL Technologies | Brokerage: CLSA | Rating: Buy | Target: Cut to Rs 1,150 from Rs 1,220
Britannia Industries | Brokerage: Jefferies | Rating: Hold | Target: Cut to Rs 3,800 from Rs 4,000
Britannia Industries | Brokerage: Jefferies | Rating: Hold | Target: Cut to Rs 3,800 from Rs 4,000
Maruti Suzuki | Brokerage: Jefferies | Rating: Buy | Target: Cut to Rs 8,250 from Rs 10,000
Maruti Suzuki | Brokerage: Jefferies | Rating: Buy | Target: Cut to Rs 8,250 from Rs 10,000
Rakesh Patil
first published: May 3, 2021 11:51 am

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