Broker Radar for June 14

Check out the stock commentaries and recommendations from brokerage houses.

Jun 14, 2019 03:06 IST India Infoline News Service

Buy Sell

UBS on Small Finance Banks: See robust growth at reasonable valuations.

  • Recent decline in wholesale rates positives for margins. Loan growth over FY19-22 expected to be at a CAGR of 33%.
  • AU Small Finance: Maintained ‘Neutral’; hiked TP to Rs760 from Rs700.
  • Equitas: Maintain Buy; hiked TP to Rs190 from Rs160.
  • Ujjivan: Maintain Buy; hiked TP to Rs450 from Rs340.

HSBC maintained ‘Buy’ on HDFC; hiked TP to Rs2,500 from Rs2,195.

  • Default by a large mortgage player to result in easier liquidity for better-managed players.
  • HDFC is well positioned for potential market share gains in the current environment.
  • Slower growth in wholesale loans mitigates asset quality risks.

Macquarie maintained ‘Outperform’ on Persistent Systems with a TP of Rs840.

  • Sales and marketing overhaul to aid in growth in the medium term.
  • M&A focus to increase in near to medium term.
  • Believe industry level growth will take at least a year.

Source: Media reports

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