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Friday's top brokerage calls: Eicher Motors, Ashok Leyland and more

Updated : 2020-08-14 08:43:39

Among brokerages, CLSA downgraded Eicher Motors to 'sell' from 'underperform' and reduced target to Rs 19,000 from Rs 19,500 earlier. Meanwhile, Jefferies is bullish on Ashok Leyland as it expects a rebound in the company's business in FY22-23. Here are the top brokerage calls for today:

 CLSA on Eicher Motors:  The brokerage downgraded the stock to 'sell' from 'underperform' and reduced target to Rs 19,000 from Rs 19,500 earlier. Unlike peers, Eicher Motors has not been able to fully pass on BS-VI related costs, said CLSA.
CLSA on Eicher Motors: The brokerage downgraded the stock to 'sell' from 'underperform' and reduced target to Rs 19,000 from Rs 19,500 earlier. Unlike peers, Eicher Motors has not been able to fully pass on BS-VI related costs, said CLSA.
 Morgan Stanley on Eicher Motors : Q1 EBITDA is below estimates due to the incentive scheme offered to restart retail sales. The brokerage stays 'overweight' on the stock as bookings holding at pre-COVID levels.
Morgan Stanley on Eicher Motors: Q1 EBITDA is below estimates due to the incentive scheme offered to restart retail sales. The brokerage stays 'overweight' on the stock as bookings holding at pre-COVID levels.
 Jefferies on Ashok Leyland:  The brokerage maintains a 'buy' call on the stock with the target raised to Rs 75 per share from Rs 65 earlier. It expects a rebound in the company's business in FY22-23 on an exceptionally low base.
Jefferies on Ashok Leyland: The brokerage maintains a 'buy' call on the stock with the target raised to Rs 75 per share from Rs 65 earlier. It expects a rebound in the company's business in FY22-23 on an exceptionally low base.
 CLSA on Ashok Leyland:  The brokerage upgraded the stock to 'buy' from 'underperform' and raised the target to Rs 80 per share from Rs 53 earlier. CLSA estimates the truck industry’s peak-to-trough volume decline at 68 percent is highest in 3 decades but channel checks indicate a pick-up in new truck buying in Q4FY21.
CLSA on Ashok Leyland: The brokerage upgraded the stock to 'buy' from 'underperform' and raised the target to Rs 80 per share from Rs 53 earlier. CLSA estimates the truck industry’s peak-to-trough volume decline at 68 percent is highest in 3 decades but channel checks indicate a pick-up in new truck buying in Q4FY21.
 Morgan Stanley on Tata Steel:  The brokerage is 'overweight' on the stock with a target at Rs 435 per share. It said that the company's net debt is largely stable QoQ despite losses in European business.
Morgan Stanley on Tata Steel: The brokerage is 'overweight' on the stock with a target at Rs 435 per share. It said that the company's net debt is largely stable QoQ despite losses in European business.
 Morgan Stanley on Hero Moto:  The brokerage is 'underweight' on the stock with a target at Rs 2,000 per share. Better cost management led to a margin beat by the company for Q1, it said.
Morgan Stanley on Hero Moto: The brokerage is 'underweight' on the stock with a target at Rs 2,000 per share. Better cost management led to a margin beat by the company for Q1, it said.
 Citi on GAIL:  The brokerage maintains 'buy' call on the stock with a target at Rs 130 per share. Citi is positive on the long-term outlook for GAIL’s gas transmission with improving volume and scope for regulatory tailwind.
Citi on GAIL: The brokerage maintains 'buy' call on the stock with a target at Rs 130 per share. Citi is positive on the long-term outlook for GAIL’s gas transmission with improving volume and scope for regulatory tailwind.
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