Broker Radar for December 07

Check out the stock commentaries and recommendations from foreign brokerage houses.

Dec 07, 2018 03:12 IST India Infoline News Service

Stock broker in a bull market
CLSA maintained ‘Buy’on Sun TV; cut target price to Rs770 from Rs870.
  • New channel launches for long-term ad-revenue boost.
  • Multiple catalysts for growth in subscription revenues.
  • Cut earnings estimates by 3-4% to factor in higher content costs.
CLSA maintained ‘Buy’on GAIL India; cut target price to Rs420 from Rs465.
  • U.S. LNG arbitrage may stay negative through 2019.
  • Upcoming quarterly results may be quite weak.
  • Futures suggest U.S. LNG will be at significant premium to Asian spot LNG price.
BofAML maintained ‘Underperform’on Maruti Suzuki  with a target price of Rs6,850.
  • Management commentary suggests that volumes remains weak despite recent drop in fuel prices.
  • Urban demand remains weak; incentives continue to rise as well.
  • With weak pricing, EPS risks remain; Despite recent correction, stock remains expensive.
Citi on Indian Steel Companies
  • Falling steel prices, rising leverage and valuations make India steel unattractive.
  • Expect steel prices to normalise in 2019 as China demand slows.
  • Tata Steel: Downgraded to ‘Sell’ from ‘Neutral’; cut price target to Rs440 from Rs620.
  • JSW Steel: Downgraded to ‘Sell’ from ‘Buy’; cut price target to Rs290 from Rs410.
  • SAIL: Downgraded to ‘Sell’ from ‘Neutral’; cut price target to Rs40 from Rs72.
(Source: Media Reports)

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