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Slideshow | Foreign brokerages raise target for these 5 stocks

Here is a list of stocks in which foreign brokerages have raised the target price:
Jun 30, 2020 / 11:49 AM IST
On June 29, the Sensex fell 209.75 points or 0.60% at 34961.52, and the Nifty shed 70.60 points or 0.68% at 10312.40.
On June 29, Sensex fell 209.75 points, or 0.60%, to 34961.52, and Nifty shed 70.60 points, or 0.68%, to end at 10312.40. While market has been inching higher since the announcement of lockdown, many stocks in the broader market have also been gaining steam. Here are 5 stocks where foreign brokerages have raised their target prices:
Ramco Cements | Brokerage: CLSA | Rating: Sell | Target: Raised to Rs 515 from Rs 480. The company’s Q4 operating results was in line, while weak volumes offset by better realisations. The capex will keep leverage high in a weak demand environment. The stock is trading at a 20 percent premium to large cap peers. CLSA raised its FY21/22 EBITDA by 6 percent, reported CNBC-TV18.
Ramco Cements | Brokerage: CLSA | Rating: Sell | Target: Raised to Rs 515 from Rs 480. The company’s Q4 operating results was in line, while weak volumes offset by better realisations. The capex will keep leverage high in a weak demand environment. The stock is trading at a 20 percent premium to large cap peers. CLSA raised its FY21/22 EBITDA by 6 percent, reported CNBC-TV18.
Cadila Healthcare | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 440 from Rs 400. The company’s India & US business remained on strong footing. The EBITDA & profit was 8 percent/5 percent ahead of the estimates. The company’s flat India formulations sales was offset by a strong US performance. The company is aiming to cut debt by Rs 800-1,000 crore in FY21. CLSA tweak FY21-22 EPS estimates by 2-4 percent, reported CNBC-TV18.
Cadila Healthcare | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 440 from Rs 400. The company’s India & US business remained on strong footing. The EBITDA & profit was 8 percent/5 percent ahead of the estimates. The company’s flat India formulations sales was offset by a strong US performance. The company is aiming to cut debt by Rs 800-1,000 crore in FY21. CLSA tweak FY21-22 EPS estimates by 2-4 percent, reported CNBC-TV18.
ICICI Bank | Brokerage: Jefferies | Rating: Buy | Target: Raised to Rs 460 from 450. The stock offers a favourable risk-reward with receding asset quality risks. The monetisation of gains on stake in subsidiaries helped to mobilise Rs 3,100 crore. Its valuations are attractive at current levels and it is among the top picks in sector, reported CNBC-TV18.
ICICI Bank | Brokerage: Jefferies | Rating: Buy | Target: Raised to Rs 460 from 450. The stock offers a favourable risk-reward with receding asset quality risks. The monetisation of gains on stake in subsidiaries helped to mobilise Rs 3,100 crore. Its valuations are attractive at current levels and it is among the top picks in sector, reported CNBC-TV18.
Maruti Suzuki | Brokerage: CLSA | Rating: Sell | Target: Raised to Rs 4,700 from Rs 4,235. The stock factors in the rapid recovery in volume & margin, while expect volume to revert to its FY19 peak by FY23. CLSA cut FY21 EPS by 10 percent to factor in near-term volume weakness, reported CNBC-TV18.
Maruti Suzuki | Brokerage: CLSA | Rating: Sell | Target: Raised to Rs 4,700 from Rs 4,235. The stock factors in the rapid recovery in volume & margin, while expect volume to revert to its FY19 peak by FY23. CLSA cut FY21 EPS by 10 percent to factor in near-term volume weakness, reported CNBC-TV18.
Power Grid | Brokerage: CLSA | Rating: Upgrade to buy | Target: Raised to Rs 205 from Rs 190. The stock is a defensive play in a COVID-19 infected world. Commercialisation of HVDC project will provide earnings visibility and see growing its earnings 19 percent over FY21-23. Also, see little downside to its estimated 52 percent rise in its dividend over FY20-23, reported CNBC-TV18.
Power Grid | Brokerage: CLSA | Rating: Upgrade to buy | Target: Raised to Rs 205 from Rs 190. The stock is a defensive play in a COVID-19 infected world. Commercialisation of HVDC project will provide earnings visibility and see growing its earnings 19 percent over FY21-23. Also, see little downside to its estimated 52 percent rise in its dividend over FY20-23, reported CNBC-TV18.
Rakesh Patil
first published: Jun 30, 2020 11:49 am

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