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HomeNewsbusinessstocks

Foreign brokerages raise target price for these 10 stocks. Do you own any?

Bank Of India, DLF and Punjab National Bank among the stocks that broking houses are bullish on

Rakesh Patil | June 17, 2021 / 12:29 IST
1/11
Benchmark indices touched fresh milestone on June 15 as investors are confident of reopening of economy after continues fall in the Covid cases and also supported by the positive global cues. The Q4 earning season is in the final leg, while till now most of the results announced were in-line, also fueled the rally. Here are the list of stocks in which foreign broking houses raise the target price
With Sensex and Nifty trading in unchartered territory, experts have advised investors to take some profit off the table. But, foreign brokerages have revised the target price of these ten stocks
2/11
Bank Of India | Brokerage: Credit Suisse | Rating: Underperform | Target: Raised to Rs 68 The potential stress pool remains elevated. The banks Common equity Tier (CET) is up to 11.5%, post Rs 3,000 crore infusion. Broking house expect Return on Assets (RoA) will remain low at 40 bps.
Bank Of India | Brokerage: Credit Suisse | Rating: Underperform | Target: Raised to Rs 68
3/11
Source: Shutterstock
Punjab National Bank | Brokerage: CLSA | Rating: Upgrade to outperform from sell | Target: Raised to Rs 47 from Rs 22
4/11
Bharat Forge | Brokerage: Nomura | Rating: Upgrade to buy from neutral | Target: Raises to Rs 924 Broking house feels that there are more medium-term upsides beyond FY23-24. Sanghvi Forging acquisition will develop infra & renewable business for import substitution. With higher oil prices, oil & gas revenues could be higher. Nomura raises FY23 revenue forecast by 10% to Rs 7,300 crore.
Bharat Forge | Brokerage: Nomura | Rating: Upgrade to buy from neutral | Target: Raises to Rs 924
5/11
GAIL | Brokerage: JPMorgan | Rating: Overweight | Target: Raised to Rs 197 The strong 4Q was in-line, while near-term oil price strength should support the earnings. The gas trading segment reported EBITDA after loss for 3 quarters.
GAIL | Brokerage: JPMorgan | Rating: Overweight | Target: Raised to Rs 197
6/11
SAIL | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 185 from Rs 110. The company's valuations are supportive, trades at 1x 1-year forward P/B. Citi estimate FY22 RoE at 19%, which is highest since FY11. It raises FY22-23 EBITDA estimates on higher volumes & prices.
SAIL | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 185 from Rs 110
7/11
DLF | Brokerage: CLSA | Rating: Upgrade to buy from outperform | Target: Raised to Rs 350. The management maintains its pre-lockdown guidance of Rs 4,000 crore for FY22 and company expects vacancies to rise further by 1%-2% in FY22, while it expects new leasing to pick up in FY23. However, company maintained its exit rental guidance of Rs 4,300-4,400 crore by March 2023.
DLF | Brokerage: CLSA | Rating: Upgrade to buy from outperform | Target: Raised to Rs 350.
8/11
Coal India | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 160 The e-auction prices will trade at a discount unless demand rises sharply. The next wage revision due in July is the key to watch out for. The company trades well below its historical mean but in line with regional players.
Coal India | Brokerage: Citi | Rating: Buy | Target: Raised to Rs 160
9/11
Jubilant FoodWorks | Brokerage: JPMorgan | Rating: Overweight | Target: Raised to Rs 3,425 from Rs 3,030 The positive growth supports premium multiples. The April/May 2021 revenue recovery rate was at 94.4 percent/87.7 percent YoY with June to be better. JPMorgan likes its strong on-ground execution capabilities supported by digital investments, while Popeyes to be a promising addition to the portfolio mix. Broking house stay overweight given medium-term growth prospects.
Jubilant FoodWorks | Brokerage: JPMorgan | Rating: Overweight | Target: Raised to Rs 3,425 from Rs 3,030 
10/11
LIC Housing Finance | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 700 CLSA has maintained buy on inexpensive valuations. The asset quality is a key negative surprise and preferential allotment to LIC would lower leverage to 9x from 10x.
LIC Housing Finance | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 700
11/11
Glenmark Pharma | Brokerage: Nomura | Rating: Buy | Target: Raised to Rs 762
Glenmark Pharma | Brokerage: Nomura | Rating: Buy | Target: Raised to Rs 762

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