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Slideshow | Brokerages raise target in these 12 stocks. Do you own any?

Adani Ports, UPL, DLF, ICICI Bank, Cadila Healthcare, HDFC are among 12 stocks whose target price was raised by brokerages.
Nov 6, 2020 / 10:43 AM IST
Benchmark indices continued the bull -run on the fifth consecutive day on November 6 on the back of positive global cues with Nifty reclaiming the 12200 mark.
The benchmark indices bull run continued for the fifth consecutive day on November 6 on the back of positive global cues, with the Nifty reclaiming the 12,200-mark. Here is a list of 12 stocks whose target price has been raised by brokerages:
Dabur India | Brokerage: Credit Suisse | Rating: Outperform | Target: Raised to Rs 590. The healthcare growth decline to be compensated by recovery in foods & international business. Broking firm increase FY21-23 EPS estimates by 4-6%, reported CNBC-TV18.
Dabur India | Brokerage: Credit Suisse | Rating: Outperform | Target: Raised to Rs 590. The healthcare growth decline to be compensated by a recovery in foods and international business. The broking firm increased FY21-23 EPS estimates by 4-6 percent, reported CNBC-TV18.
Adani Ports | Brokerage: Jefferies | Rating: Buy | Target: Raised to Rs 475. The Q2 results in-line with expectations. The October 2020 volumes were up 21% YoY. The 10% upward revision to FY22e EPS reflects 5-6% higher FY21-22 volume assumption, reported CNBC-TV18.
Adani Ports | Brokerage: Jefferies | Rating: Buy | Target: Raised to Rs 475. The Q2 results were in line with expectations. The October 2020 volumes were up 21 percent YoY. The 10 percent upward revision to FY22e EPS reflects 5-6 percent higher FY21-22 volume assumption, CNBC-TV18 said.
SBI: Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 330 from Rs 310. The Q2 results reassuring with NII/Core PPOP growth of 15% YoY. The collections at 97% are strongest for company among the top banks. CLSA increased FY21/22/23 estimates 64/17/12% and expect company to deliver 9.7/11.9% ROEs in FY22/23. The valuations look cheap at current levels and expect a big rerating, reported CNBC-TV18.
SBI: Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 330 from Rs 310. The Q2 results were reassuring with NII/Core PPOP growth of 15% YoY. Collections at 97% were the strongest among the top banks. CLSA raised FY21/22/23 estimates to 64/17/12% and expects the bank to deliver 9.7/11.9% ROEs in FY22/23. The valuations look cheap and the brokerage expects a big rerating, CNBC-TV18 reported.
HPCL | Brokerage: CLSA | Rating: Upgrade to buy from sell | Target: Raised to Rs 225 from Rs 180. The open market buyback of >18% of current free float is a good news. The large inventory gain drove the Q2 profit. The open market buyback an effective way to reward shareholders. The higher marketing exposure also puts it in good stead versus peers, reported CNBC-TV18.
HPCL | Brokerage: CLSA | Rating: Upgrade to buy from sell | Target: Raised to Rs 225 from Rs 180. The open market buyback of >18% of current free float is good news. The large inventory gain drove the Q2 profit. The open market buyback is an effective way to reward shareholders. A higher marketing exposure also puts it in good stead versus peers, CNBC-TV18 said.
HDFC | Brokerage: CLSA | Rating: Outperform | Target: Raised to Rs 2,300 from Rs 2,100. The NII & Core mortgage PPoP growth were driven by improving mortgage spreads. The 96.3% collection rate in individual mortgages was strong. On its builder book, some uncertainty remains. CLSA conservatively factor in another Rs 2,500 crore provisions for H2, reported CNBC-TV18.
HDFC | Brokerage: CLSA | Rating: Outperform | Target: Raised to Rs 2,300 from Rs 2,100. The NII & Core mortgage PPoP growth were driven by improving mortgage spreads. The 96.3% collection rate in individual mortgages was strong. On its builder book, some uncertainty remains. CLSA has conservatively factored in another Rs 2,500 crore provisions for H2, reported CNBC-TV18.
Cadila Healthcare | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 540 from Rs 525. R&D initiatives expected to drive long-term growth. The strong US business and improving profitability in India should drive margin. CLSA increased FY21-23 EPS estimates by 3-8%, reported CNBC-TV18.
Cadila Healthcare | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 540 from Rs 525. R&D push expected to drive long-term growth. The strong US business and improving profitability in India should drive margin. CLSA increased FY21-23 EPS estimates by 3-8%, CNBC-TV18 said.
Laurus Lab | Brokerage: Citi | Rating: Sell | Target: Raised to Rs 280 from Rs 260. Research house Citi raised estimates for FY21/22/23 EPS by 15/22/21%. Estimates raised in order to reflect strong management guidance, reported CNBC-TV18.
Laurus Lab | Brokerage: Citi | Rating: Sell | Target: Raised to Rs 280 from Rs 260. Research house Citi raised estimates for FY21/22/23 EPS by 15/22/21%. Estimates raised to reflect strong management guidance, reported CNBC-TV18.
ICICI Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 560 from Rs 500. Company has delivered strong Q2 with a big core PPoP and expect a rerating. The company management expects normalised credit costs by FY22. It has increase FY21/22/23 profit estimates by 49%/19%/7% and expect its RoE to be back to 14-15% by FY23, reported CNBC-TV18.
ICICI Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 560 from Rs 500. Company has delivered strong Q2 with a big core PPoP and expect a rerating. The company management expects normalised credit costs by FY22. It has increase FY21/22/23 profit estimates by 49%/19%/7% and expect its RoE to be back to 14-15% by FY23, reported CNBC-TV18.
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DLF | Brokerage: CLSA | Rating: Buy | Target: Raises to Rs 205 from Rs 190. Research house seeing demand recover with residential sales of Rs 470 crore. The healthy rent collections of >98% in the office segment and increase its sales estimates for FY21 by 10%. Its lower EPS estimate for FY21 due to the slow hand-over of units, reported CNBC-TV18.
Max Financial |Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 780 from Rs 720. According to CLSA, the revised Axis Bank deal is one step closer to the completion. The Q2 results strong with APE growth of 8% YoY. The VNB margin could normalise in H2FY21 and expect its VNB margin to improve to 23% in FY21. CLSA increased its FY21/FY22 VNB by 15%, reported CNBC-TV18.
Max Financial |Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 780 from Rs 720. According to CLSA, the revised Axis Bank deal is a step closer to completion. The Q2 results were strong with APE growth of 8% YoY. The VNB margin could normalise in H2FY21 and the brokerage expects VNB margin to improve to 23% in FY21. CLSA increased its FY21/FY22 VNB by 15%, reported CNBC-TV18.
UPL | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 660 from Rs 620. According to CLSA, the volume-led growth should continue and leverage manageable. The revenue/EBITDA stood ahead of estimate in Q2. It has reported profit impacted by ‘one-off’ charges leading to a miss. Research house reiterated its revenue/EBITDA growth guidance of 6-8% & 10-12% for FY21, reported CNBC-TV18.
UPL | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 660 from Rs 620. According to CLSA, the volume-led growth should continue and leverage manageable. The revenue/EBITDA were ahead of estimates in Q2. The company's profit was impacted by ‘one-off’ charges leading to a miss. CLSA reiterated its revenue/EBITDA growth guidance of 6-8% & 10-12% for FY21, reported CNBC-TV18.
IndusInd Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 710 from Rs 665. The improvement in its deposit franchise is a key positive. The asset quality commentary robust with collections at 94%. CLSA expect credit costs of 600 bps over FY21 & FY22 and raise FY21-23 profit marginally by 2-4%, reported CNBC-TV18.
IndusInd Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 710 from Rs 665. The improvement in its deposit franchise is a key positive. The asset quality commentary is robust with collections at 94%. CLSA expects credit costs of 600 bps over FY21 & FY22 and raised FY21-23 profit marginally by 2-4%, reported CNBC-TV18.
Rakesh Patil
first published: Nov 6, 2020 10:43 am

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