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Top brokerage calls for July 24: Citi upgrades HDFC Life to 'buy', Credit Suisse raises TP for HUL

Updated : 2019-07-24 08:03:16

Indian benchmark indices are likely to open flat as weaker-than-expected June quarter earnings kept the investors cautious. Meanwhile, Asian shares traded marginally higher following reports that the US and China may resume trade negotiations next week. On Tuesday, Sensex and Nifty50 declined for a fourth straight session, dragged by financials. Among brokerages, Citi upgraded HDFC Life to 'buy' from 'sell', while maintaining a 'neutral' rating on HUL. Credit Suisse raised price target for Zee. Nomura cut TP for L&T. Here are the top brokerage calls for Wednesday:

<strong>Citi on HDFC Life:</strong> The brokerage upgraded the stock to 'buy' from 'sell' and raised its target price to Rs 600 from Rs 390 per share.
Citi on HDFC Life: The brokerage upgraded the stock to 'buy' from 'sell' and raised its target price to Rs 600 from Rs 390 per share.
<strong>Credit Suisse on HUL</strong>: The brokerage maintained a 'neutral' call on the stock but raised the price target to Rs 1,880 from Rs 1,850 per share. It expects growth to remain muted and margin expansion to get tougher.
Credit Suisse on HUL: The brokerage maintained a 'neutral' call on the stock but raised the price target to Rs 1,880 from Rs 1,850 per share. It expects growth to remain muted and margin expansion to get tougher.
<strong>Citi on HUL:</strong> The brokerage gave a 'neutral' rating on the stock with target cut to Rs 1,850 from Rs 1,867 per share. The business model has ample levers to flex, to ensure a steady outcome, it added.
Citi on HUL: The brokerage gave a 'neutral' rating on the stock with target cut to Rs 1,850 from Rs 1,867 per share. The business model has ample levers to flex, to ensure a steady outcome, it added.
<strong>Credit Suisse on Zee:</strong> The brokerage maintained a 'neutral' rating on the stock and raised its target to Rs 400 from Rs 390 per share. It said that the company posted a strong quarter with EBITDA 10 percent above estimates.
Credit Suisse on Zee: The brokerage maintained a 'neutral' rating on the stock and raised its target to Rs 400 from Rs 390 per share. It said that the company posted a strong quarter with EBITDA 10 percent above estimates.
<strong>Morgan Stanley on Zee:</strong> The brokerage was 'underweight' on the stock with a target at Rs 370 per share. The ad growth is weak but the subscription revenue was better, it added.
Morgan Stanley on Zee: The brokerage was 'underweight' on the stock with a target at Rs 370 per share. The ad growth is weak but the subscription revenue was better, it added.
<strong>Nomura on Torrent Pharma:</strong> Nomura maintained a 'buy' rating on Torrent Pharma and raised its target to Rs 1,855 from Rs 1,778 per share. It expects the company to record a strong cash flow generation over the next three years.
Nomura on Torrent Pharma: Nomura maintained a 'buy' rating on Torrent Pharma and raised its target to Rs 1,855 from Rs 1,778 per share. It expects the company to record a strong cash flow generation over the next three years.
<strong>Nomura on L&T:</strong> The brokerage was bullish on the stock with target cut to Rs 1,725 from Rs 1,745 per share. Guidance has been retained as prospects remain robust, however, the core margin is still flattish, the brokerage noted.
Nomura on L&T: The brokerage was bullish on the stock with target cut to Rs 1,725 from Rs 1,745 per share. Guidance has been retained as prospects remain robust, however, the core margin is still flattish, the brokerage noted.
<strong>Morgan Stanley on L&T:</strong> Morgan Stanley maintained an 'overweight' rating on L&T, saying that the company posted decent numbers in a challenging quarter.
Morgan Stanley on L&T: Morgan Stanley maintained an 'overweight' rating on L&T, saying that the company posted decent numbers in a challenging quarter.
<strong>Morgan Stanley on MindTree</strong>: The brokerage was 'underweight' on the stock with a target at Rs 705 per share. L&T likely to announce new CEO on August 2, post that investor focus will shift to strategy, it noted.
Morgan Stanley on MindTree: The brokerage was 'underweight' on the stock with a target at Rs 705 per share. L&T likely to announce new CEO on August 2, post that investor focus will shift to strategy, it noted.
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