Broker Radar for June 19

Check out the stock commentaries and recommendations from brokerage houses.

Jun 19, 2019 02:06 IST India Infoline News Service

UBS maintain 'Buy' on Titan; hiked TP to Rs1,600 from Rs1,250.
  • Aggressive growth strategy and flawless execution keep us bullish.
  • Expect market share gains to continue; Expect EPS CAGR of 30% over FY19-22.
  • Jewellery segment market share to reach 20.5% till FY23 vs. 13.5% in FY19.
CLSA maintains 'Sell' on Bharat Forge; cut TP to Rs390 from Rs420.
  • Risk of a simultaneous slowdown in three key segments.
  • Industrial, domestic truck & export truck form 65% of revenue.
  • Cut FY20-21 EPS estimates by 2-3% factoring in lower exports.
Goldman Sachs on Indian Steel: Global activity slowed significantly; China growth concerns impact spreads.
  • Domestic demand resilient, but spreads unlikely to bounce back.
  • Preferred integrated steel mills as ore availability remain uncertain.
  • Tata Steel: Reinstated 'Buy' with a target price of Rs570.
  • JSW Steel: Downgraded to 'Neutral' from 'Buy'; cut target price to Rs296 from Rs327.
HSBC on Aviation Sector:
  • Domestic traffic grew, but airlines selling more seats at lower fares.
  • Load factor down for most; market share normalizing now.
  • Fares should normalize further going forward.
Source: Media reports

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