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Slideshow | Foreign Brokerages Raise Target On These 10 Stocks; Take A Look

Here are the 10 stocks in which foreign brokerages have raised the target price, as reported by CNBC-TV18

Jul 24, 2020 / 12:02 PM IST
Sensex
On July 23, the Indian indices ended near the day's high level supported by the energy, pharma and auto stocks. The Sensex rose 268.95 points to close at 38140.47, while Nifty was up 82.90 points at 11,215.50.
CLSA maintained buy call on Axis Bank and raised target to Rs 600 from Rs 580 per share. According to research house, the Q1 results were better than muted expectations on PPoP & asset quality. The moratorium of 9.7% may not include some stressed loans. It expect the bank to deliver 14% RoEs by FY23, while capital raise of Rs 12,000 crore will lead to 180 bps accretion to CET-1 in FY21.
CLSA maintained buy call on Axis Bank and raised target to Rs 600 from Rs 580 per share. According to research house, the Q1 results were better than expectations on PPoP & asset quality. The moratorium of 9.7% may not include some stressed loans. It expecta the bank to deliver 14% RoEs by FY23, while capital raise of Rs 12,000 crore will lead to 180 bps accretion to CET-1 in FY21.
Source: Reuters
Jefferies has maintained a buy call on HUL and increased target to Rs 2,650 from Rs 2,525 per share. The strong Q1 drives 2% EPS upgrades over FY21-22, while company beat Jefferies & consensus forecasts by a wide margin. The demand outlook is still uncertain with local level lockdown, while overall A&P spends declined >30% with sharper declines for the base business.
Given the recent run-up & rich valuation, CLSA has downgraded HDFC Life to outperform from buy but raised target to Rs 675 from Rs 640 per share. The Q1 VNB margin was at 24.3%, which is below its 25.9% margin in FY20. As volume picks up, expect VNB margin of 26% in FY21.
Given the recent run-up & rich valuation, CLSA has downgraded HDFC Life to outperform from buy but raised target to Rs 675 from Rs 640 per share. The Q1 VNB margin was at 24.3%, which is below its 25.9% margin in FY20. As volume picks up, expect VNB margin of 26% in FY21.
Jefferies has maintained buy call on ICICI Prudential and raised to Rs 560 from Rs 550 per share. The persistency ratio is holding up, while new protection product can lift margin from Q2. The ramp-up of protection will improve profitability & lower volatility. At 2x FY22 price/ EV, the stock is attractively valued for RoEV of 14% in FY22.
Jefferies has maintained buy call on ICICI Prudential and raised target to Rs 560 from Rs 550 per share. The persistency ratio is holding up, while new protection product can lift margin from Q2. The ramp-up of protection will improve profitability & lower volatility. At 2x FY22 price/ EV, the stock is attractively valued for RoEV of 14% in FY22.
Jefferies has maintained buy call on ACC and raised the target price to Rs 1,700 from Rs 1,500 per share. The sector would see volatile trends due to tough macro. ACC and Ambuja are Jefferies' the best plays. It raised EPS estimates by 11-24% to factor in lower than expected costs.
Jefferies has maintained buy call on ACC and raised the target price to Rs 1,700 from Rs 1,500 per share. The sector would see volatile trends due to tough macro. ACC and Ambuja are Jefferies' favourite plays. It raised EPS estimates by 11-24% to factor in lower than expected costs.
CLSA has maintained buy on HDFC Bank and raised target to Rs 1,450 from Rs 1,250 per share. The company seems to be passing the biggest asset quality test. The results were strong in the context of Covid-19 disruptions. The management commentary on assets across verticals was even stronger. CLSA increased its FY22/23 earnings by 6%-9%.
CLSA has maintained buy on HDFC Bank and raised target to Rs 1,450 from Rs 1,250 per share. The company seems to be passing the biggest asset quality test. The results were strong in the context of Covid-19 disruptions. The management commentary on assets across verticals was even stronger. CLSA increased its FY22/23 earnings by 6%-9%.
 (Image: HCL)
CLSA has reiterated buy rating on HCL Technologies and raised the target to Rs 740 from Rs 650 per share. The company's results underscored its strong margin defence. The higher exposure to run-the-business spend leading to a faster recovery. It raised FY21/FY22 EPS estimates by 4%/6%.
Source: Reuters
CLSA has kept a buy on Bajaj Auto and increased target price to Rs 3,550 from Rs 3,400 per share. The Q1 operating results beat consensus & CLSA expectations. Company expects demand uptick to continue in the coming months. CLSA increased FY21-23 EPS estimates by 3-4%.
CLSA has maintained buy call on ICICI Securities and raised target to Rs 625 from Rs 450 per share. Its retail equity participation drives the growth, while the sustainability is the key for earnings. CLSA has raised FY21 EPS estimates by 18% to factor in strong Q1 earnings. According to research house, the revenue growth to normalise once buoyant retail equity participation subsides.
CLSA has maintained buy call on ICICI Securities and raised target to Rs 625 from Rs 450 per share. Its retail equity participation drives the growth, while the sustainability is the key for earnings. CLSA has raised FY21 EPS estimates by 18% to factor in strong Q1 earnings. According to research house, the revenue growth to normalise once buoyant retail equity participation subsides.
CLSA has reiterated outperform rating on Asian Paints and raised target to Rs 1,900 from Rs 1,710 per share. The company focus is to be a consumer and service-oriented brand and making major investments to enhance consumer servicing capabilities. In paints, its focussed on gaining share in the bottom-of-the-pyramid segment. Its return ratios have significantly improved after the FY19 decline, while FCF generation reported the second consecutive year of strong growth.
CLSA has reiterated outperform rating on Asian Paints and raised target to Rs 1,900 from Rs 1,710 per share. The company focus is to be a consumer and service-oriented brand and making major investments to enhance consumer servicing capabilities. In paints, its focussed on gaining share in the bottom-of-the-pyramid segment. Its return ratios have significantly improved after the FY19 decline, while FCF generation reported the second consecutive year of strong growth.
Rakesh Patil
first published: Jul 24, 2020 12:02 pm

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