Broker Radar for August 23

Check out the stock commentaries and recommendations from brokerage houses.

Aug 23, 2019 02:08 IST India Infoline News Service

BofAML on India Financials:
  • HDFC: Reinstated ‘Buy’ with TP of Rs2,570.
  • LIC Housing: Reinstated ‘Underperform’ with TP of Rs425.
  • PNB Housing: Reinstate ‘Underperform’ with TP of Rs650.
  • Prefer HDFC given its strong liability franchise, time-tested resilience in spreads and market share gains. Underperform on LIC Housing and PNB Housing due to asset quality concerns.
JPMorgan on Metals:
  • Government sell down an overhang, but priced-in.
  • Coal India: Upgraded to ‘Overweight’ from ‘Neutral’; maintained TP at Rs225. (as a 10% dividend yield is difficult to ignore).
  • NMDC: Downgraded to ‘Neutral’ from ‘Overweight’; cut TP to Rs95 from Rs145. (on mine lease renewal overhang)
CLSA maintained ‘Buy’ on Adani Ports with TP of Rs500.
  • Solid vision in tough global trade.
  • Gasification to accelerate revenues.
  • Expect 16% growth in port EBITDA over financial years 2019-21.
UBS upgraded to ‘Buy’ from ‘Neutral’ on Max Financial; hiked TP to Rs550 from Rs500.
  • Possible negative developments in the price.
  • Share price building in non-renewal of Axis partnership.
  • Operational performance remains sound.
CLSA maintained ‘Buy’ on IndusInd Bank with TP of Rs2,160.
  • Strengthening of deposit franchise key.
  • Operationally steady, but asset quality drags earnings.
  • Capital intensity is high.
Morgan Stanley initiated ‘Overweight’ on Container Corp with TP of Rs566.
  • Dedicated Freight Corridor initiative should benefit Container Corp – a dominant player.
  • Rail to gain share post-DFC commissioning, fostering the quicker and more predictable movement of goods.
  • Expect 12% earnings compounded annual growth rate over financial years 2019-22.
Source: Media reports

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