Broker Radar for February 20

Check out the stock commentaries and recommendations from brokerage houses.

Feb 20, 2019 02:02 IST India Infoline News Service

Buy Sell
JPMorgan downgraded M&M to ‘Neutral’ from ‘Overweight’; cut TP to Rs700 from Rs900
  • Downgraded the stock due to moderating growth trends and lack of catalysts.
  • Valuations are cheap but unlikely to improve in a hurry.
  • Concerns: Tractor volume growth peaking, demand slowdown and margin pressure.
JPMorgan maintained ‘Overweight’ on Indian Hotels with a TP of Rs160
  • Company reiterated its focus on balance sheet optimisation, profitable growth.
  • Company was confident of achieving its stated margin target of 25% by March 2023.
  • Path to achieving cost optimisation to be driven by incremental improvements.
CLSA on Indian Autos; global auto cos keen on JV with Indian cos for EVs
  • Maruti should be well-placed on technology in the coming years on EV.
  • Suzuki and Toyota joining hands positive for Maruti
  • M&M is also teaming up with Ford, while Tata might need some collaboration for its India car business
  • JLR is vulnerable given high investment needs and smaller scale
HSBC on Jet Airways;Jet Airways Board approved bank-led resolution plan to restructure debt; Reduced TP to Rs190 from Rs200 as we adjust forecasts 
  • Jet to convert debt to equity and infuse capital.
  • Operationally, a lot needs to be changed to ensure sustainability.
  • Successful restructuring and cost control are key concerns
(Source: Media Reports)

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