Broker Radar for May 16

Check out the stock commentaries and recommendations from brokerage houses.

May 16, 2019 02:05 IST India Infoline News Service

Morgan Stanley maintained ‘Underweight’ on Tata Global Beverages with TP of Rs165.

  • Tata Global’s consumer product business is valued at Rs5,800cr.
  • Expect Tata Global to use cash flows from Tata Salt business to invest in new consumer categories.
  • Any potential re-rating dependent on synergy benefits, success in new markets and on margins. 

UBS maintained ‘Buy’ on Lupin with TP of Rs970.

  • March quarter’s earnings were in line with estimates. India business improving; Japan to remain subdued with price cuts.
  • Expect stronger earnings pick up from the second half onwards.

Macquarie maintained ‘Underperform’ on Lupin; cut TP to Rs705 from Rs716.

  • Not out of the woods yet. FY20/21 US build-up largely contingent on three products.
  • Lowering EPS estimates on additional regulatory woes, slower EM sales and higher tax.

CLSA maintained ‘Buy’ on Jubilant Foodworks; cut TP to Rs1,500 from Rs1,600.

  • March quarter’s Ebitda missed estimates, but net profit was ahead. SSSG moderates, but margin ahead.
  • Slowing SSSG forces to cut EPS estimates.

CLSA maintained ‘Outperform’ on Motherson Sumi; cut TP to Rs135 from Rs150.

  • Weak European auto demand hurting; subdued commentary from global players.
  • Auto demand environment weak in India too.
  • Cut EPS estimates for the current ad the next financial year by 15-16%; valuations turning more palatable.

Source: Media Reports


Related Story