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Foreign brokerages raise target on these 6 largecaps; do you own any?

Tata Steel, M&M and ONGC among six largecaps for which foreign brokerages raised target post December quarter earnings.

February 18, 2021 / 11:48 AM IST
Sensex
On February 17, the market ended lower for the second consecutive day with Sensex closing below 52,000, while Nifty manages to hold above 15,200. Here are the six largecap stocks for which foreign brokerages increased target price.
Tata Steel | Brokerage: Morgan Stanley | Rating: Overweight | Target: Raised to Rs 880 per share. According to research firm, the Q4 profitability should be better than Q3 for both India & Europe. The company targets further USD 1 billion debt reduction in FY22. The comfort level for net debt-to-EBITDA is 2.75x, reported CNBC-TV18.
Tata Steel | Brokerage: Morgan Stanley | Rating: Overweight | Target: Raised to Rs 880 per share. According to research firm, the Q4 profitability should be better than Q3 for both India & Europe. The company targets further USD 1 billion debt reduction in FY22. The comfort level for net debt-to-EBITDA is 2.75x, reported CNBC-TV18.
Image: PTI
Titan Company | Brokerage: Credit Suisse | Rating: Neutral | Target: Raised to Rs 1,650 per share. There was a full recovery in jewellery business and further acceleration in January. Credit Suisse increases FY21-23 EPS estimate by 18-20%, reported CNBC-TV18.
Mahindra and Mahindra | Brokerage: Nomura | Rating: Buy | Target: Raised to Rs 1,165 per share. Company executing well on all fronts. The success of new SUV, LCV share gains & efficient capital allocation to drive re-rating. Nomura raised EPS estimate by 14%/ 2%/ 8% for FY21/FY22/FY23, reported CNBC-TV18.
Mahindra and Mahindra | Brokerage: Nomura | Rating: Buy | Target: Raised to Rs 1,165 per share. Company executing well on all fronts. The success of new SUV, LCV share gains & efficient capital allocation to drive re-rating. Nomura raised EPS estimate by 14%/ 2%/ 8% for FY21/FY22/FY23, reported CNBC-TV18.
Adani Ports| Brokerage: Morgan Stanley | Rating: Overweight | Target: Raised to Rs 733 per share. Company continues to gain share (28% now). It delivers value to its customer base with strong mechanisation levels. It has assets at strategic locations, exhibits strong pricing power. The company focussed on improving utilisation/cash flow generation, reported CNBC-TV18.
Adani Ports| Brokerage: Morgan Stanley | Rating: Overweight | Target: Raised to Rs 733 per share. Company continues to gain share (28% now). It delivers value to its customer base with strong mechanisation levels. It has assets at strategic locations, exhibits strong pricing power. The company focussed on improving utilisation/cash flow generation, reported CNBC-TV18.
Grasim Industries | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 1,430 per share. The Q3 was strong, while VSF margin at a 3-year high. Citi hikes FY21-23 EBITDA by 8-17% on higher VSF margin, reported CNBC-TV18.
Grasim Industries | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 1,430 per share. The Q3 was strong, while VSF margin at a 3-year high. Citi hikes FY21-23 EBITDA by 8-17% on higher VSF margin, reported CNBC-TV18.
ONGC | Brokerage: CLSA | Rating: Upgrade to outperform from sell | Target: Raised to Rs 105 from Rs 90 per share. The standalone Q3 EBITDA at 13% was ahead of CLSA estimate. It raises FY21 EPS by 10-185 on stronger crude in Q4 & FY22-23. Research house expect the formula-based domestic gas price to settle higher and company is pricing in USD 56/bbl versus spot price of USD 62, reported CNBC-TV18.
ONGC | Brokerage: CLSA | Rating: Upgrade to outperform from sell | Target: Raised to Rs 105 from Rs 90 per share. The standalone Q3 EBITDA at 13% was ahead of CLSA estimate. It raises FY21 EPS by 10-185 on stronger crude in Q4 & FY22-23. Research house expect the formula-based domestic gas price to settle higher and company is pricing in USD 56/bbl versus spot price of USD 62, reported CNBC-TV18.
Rakesh Patil
first published: Feb 18, 2021 11:48 am

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