Broker Radar for July 10

Check out the stock commentaries and recommendations from brokerage houses.

Jul 10, 2019 02:07 IST India Infoline News Service

CLSA maintained ‘Buy’ on TCS; cut TP to Rs2,570 from Rs2,650.
  • Revenue and margin miss estimates; margins miss due to supply pressures.
  • Rising relevance – large deal wins digital share gains and client mining.
  • Cut EPS estimates by 3% to factor in revenue and margin miss.
UBS maintained ‘Neutral’ on TCS with a TP of Rs2,400.
  • Revenue miss likely to raise demand concerns.
  • TCS continues to see stress in capital markets and European banking customers. Expect some near-term pullback.

BofAML maintained ‘Neutral’ on TCS; hiked price target to Rs2,130 from Rs2,040.
  • Q1: the US decelerates; steady margin performance.
  • Lower FY20/21 EPS estimates by 3-5%.
  • Stronger margin to peers is likely to help retain premium valuations.
Citi maintained ‘Sell’ on InterGlobe Aviation with a TP of Rs1,300.
  • The conflict between promoters is more than just minor differences.
  • Do not envisage a settlement anytime soon between promoters.
  • Uncertainty regarding final resolution could cause weakness in stock price.
HSBC maintained ‘Hold’ on Balkrishna Industries; cut TP to Rs850 from Rs1,040.
  • Commentary from management and global peers cites the persistence of growth challenges.
  • Cut earnings on weather-related hits in the Americas and Europe and non-resolution of trade wars
Goldman Sachs initiated ‘Buy’ on SpiceJet with a TP of Rs161.45.
  • Expect sector-leading profitability to improve over the next few years.
  • Expanding share with a regional focus to improve yields.
  • With increase large scale operations, SpiceJet to benefit from operating leverage.
Source: Media reports

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