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Top brokerage calls for June 10: Morgan Stanley 'underweight' on GSK Pharma, bullish on ITC

Updated : June 10, 2019 08:35 AM IST

Indian benchmark indices are set for a strong start on Monday following gains in global markets after the US and Mexico agreed to end their trade dispute. Moreover, week US jobs data on Friday raised prospects of an interest rate cut by the US Federal Reserve. Among brokerages, Morgan Stanley had an 'underweight' call on GSK Pharma but raised its target to Rs 1,134. Nomura preferred corporate banks as they have limited exposure to recent stressed names in NBFC and infra space. Morgan Stanley had an 'overweight' call on ITC stock with target raised to Rs 360 per share. Jefferies had a 'hold' rating on HUL, while Deutsche Bank had a 'hold' rating on Tata Motors. Here are the other top brokerage calls for Monday:

<strong>Morgan Stanley on GSK Pharma</strong>: The brokerage is 'underweight' on GSK Pharma and has raised its target to Rs 1,134. The brokerage expects GSK India's growth to be muted due to a recent industry slowdown.
Morgan Stanley on GSK Pharma: The brokerage is 'underweight' on GSK Pharma and has raised its target to Rs 1,134. The brokerage expects GSK India's growth to be muted due to a recent industry slowdown.
<strong>Nomura on New Resolution Framework</strong>: Nomura believes most changes to resolution for stressed assets are practical. They prefer corporate banks as they have limited exposure to recent stressed names in NBFC and infra space.
Nomura on New Resolution Framework: Nomura believes most changes to resolution for stressed assets are practical. They prefer corporate banks as they have limited exposure to recent stressed names in NBFC and infra space.
<strong>Morgan Stanley on ITC:</strong> The brokerage has an 'overweight' call on the stock with target raised to Rs 360 per share. They see upside risks to earnings estimates from potential higher cigarette price growth.
Morgan Stanley on ITC: The brokerage has an 'overweight' call on the stock with target raised to Rs 360 per share. They see upside risks to earnings estimates from potential higher cigarette price growth.
<strong>Deutsche Bank on Tata Motors</strong>: The brokerage has a 'hold' rating on the stock with a target at Rs 175 per share.
Deutsche Bank on Tata Motors: The brokerage has a 'hold' rating on the stock with a target at Rs 175 per share.
<strong>Jefferies on HUL</strong>: The brokerage has a 'hold' rating on the stocks with a target of Rs 1,820 per share. The brokerage maintains 'hold' stong given the stretched valuations.
Jefferies on HUL: The brokerage has a 'hold' rating on the stocks with a target of Rs 1,820 per share. The brokerage maintains 'hold' stong given the stretched valuations.
<strong>Credit Suisse on IT Sector</strong>: The brokerage believes that the valuations of IT stocks are reluctant to price in any slowdown risks. If US growth slowdowns, growth expectations could reset downwards, it added.
Credit Suisse on IT Sector: The brokerage believes that the valuations of IT stocks are reluctant to price in any slowdown risks. If US growth slowdowns, growth expectations could reset downwards, it added.
<strong>Citi on Dabur</strong>: The brokerage has a 'buy' rating on the stock with a target at Rs 455 per share. Trends in the last two months are slightly better as compared to a slowdown in March, it added.
Citi on Dabur: The brokerage has a 'buy' rating on the stock with a target at Rs 455 per share. Trends in the last two months are slightly better as compared to a slowdown in March, it added.
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