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Slideshow | RIL and HDFC among 5 stocks where brokerages raised targets

Here is a list of five stocks (as reported by CNBC-TV18) for which foreign brokerages have raised target prices.
Jul 31, 2020 / 11:38 AM IST
Sensex
Benchmark indices remained under pressure for the second consecutive day on July 30 with Nifty finishing July F&O series just above 11,100, while Sensex was down 335 points at 37,736. Investors are keenly waiting for RBI's monetary policy while expecting another round of stimulus as number of COVID-19 cases keep rising around the world. Here are five stocks where brokerages have increased their targets:
JPMorgan has overweight rating on Tech Mahindra and increased target price to Rs 740 from Rs 680 per share. The company beats low Q1 expectations across all the metrics, while deal wins were softer than peers, with several cyclical headwinds are behind. The growth recovery momentum should be solid till Q4. Research house raised revenue estimates by 3/4/4 percent, margin by 156/55/24 bps for FY21/22/23. The stock provides attractive risk-reward at 13x FY22e P/E.
JPMorgan has overweight rating on Tech Mahindra and increased target price to Rs 740 from Rs 680 per share. The company beats low Q1 expectations across all the metrics, while deal wins were softer than peers, with several cyclical headwinds are behind. The growth recovery momentum should be solid till Q4. Research house raised revenue estimates by 3/4/4 percent, margin by 156/55/24 bps for FY21/22/23. The stock provides attractive risk-reward at 13x FY22e P/E.
CLSA has downgraded Reliance Industries to outperform from buy, while raised target to Rs 2,250 from Rs 1,753 per share. It factor in a street-high valuation for Reliance Jio & Reliance Retail. Its long-term promise & underweight position in portfolios may support stock price, while large valuation surprises may be difficult in the near term.
CLSA has downgraded Reliance Industries to outperform from buy, while raising target to Rs 2,250 from Rs 1,753 per share. It factors in a street-high valuation for Reliance Jio & Reliance Retail. Its long-term promise & underweight position in portfolios may support stock price, while large valuation surprises may be difficult in the near term. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Morgan Stanley has kept overweight call on HDFC and raised target to Rs 2,230 from Rs 2,155 per share. The structural consolidation is underway in NBFC/HFC space w.r.t funding availability. The valuation is attractive at the current levels.
Morgan Stanley has kept overweight call on HDFC and raised target to Rs 2,230 from Rs 2,155 per share. The structural consolidation is underway in NBFC/HFC space w.r.t funding availability. The valuation is attractive at the current levels.
Kotak Institutional Equities has retained add rating on Colgate Palmolive and increased target to Rs 1,550 from Rs 1,450 per share. The ahead-of-expectation Q1 print was on strong toothpaste portfolio performance. The gross margin was steady while sharp ad spend cuts aided strong margin improvement. Broking house expect steady improvement in growth rates ahead and revival in toothpaste market share should start playing out in next few quarters.
Kotak Institutional Equities has retained add rating on Colgate Palmolive and increased target to Rs 1,550 from Rs 1,450 per share. The ahead-of-expectation Q1 print was on strong toothpaste portfolio performance. The gross margin was steady while sharp ad spend cuts aided strong margin improvement. Broking house expect steady improvement in growth rates ahead and revival in toothpaste market share should start playing out in next few quarters.
Dr Reddy
Citi has buy call on Dr Reddy’s Laboratories and has raised target to Rs 5,000 from Rs 4,450 per share. Research house raised FY21-22 revenue, EBIT & EPS estimates by 5-7 percent, 9-13 percent & 6-12 percent, respectively. It factors in Q1 beat & completion of Wockhardt business acquisition.
Rakesh Patil
first published: Jul 31, 2020 11:38 am

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