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Top brokerage calls for November 28: Credit Suisse raises price target for ICICI Bank, SBI, HDFC; Kotak bearish on Cummins

Updated : 2019-11-28 08:17:00

Indian share markets are expected to open in red on Thursday after the benchmarks Sensex and Nifty registered record closing highs in the previous session. The SGX Nifty, an indicator of the opening for the Nifty, was trading 23 points or 0.2 percent lower at 12,101 at 7:50 am, hinting at a subdued start for the domestic market. Among brokerages, Morgan Stanley was 'overweight' on Sobha, while Credit Suisse raised target price of ICICI Bank, SBI, and HDFC. Here are the top brokerage calls for Thursday:

<strong>Credit Suisse on Financials:</strong> The brokerage maintained 'outperform' and raised the target for ICICI Bank, SBI and HDFC on the increased value of asset management and insurance business.
Credit Suisse on Financials: The brokerage maintained 'outperform' and raised the target for ICICI Bank, SBI and HDFC on the increased value of asset management and insurance business.
<strong>Credit Suisse on Nestle:</strong> The brokerage maintained 'outperform' on the stock with a target at Rs 16,000 per share. Gross margin has fallen in CY19 due to very high inflation in milk prices, the brokerage noted.
Credit Suisse on Nestle: The brokerage maintained 'outperform' on the stock with a target at Rs 16,000 per share. Gross margin has fallen in CY19 due to very high inflation in milk prices, the brokerage noted.
<strong>Kotak Institutional Equities on Cummins:</strong> The brokerage maintained 'reduce' rating on the stock with a target at Rs 540 per share. It noted dim prospects of a big recovery in the margin in absence of demand uptick.
Kotak Institutional Equities on Cummins: The brokerage maintained 'reduce' rating on the stock with a target at Rs 540 per share. It noted dim prospects of a big recovery in the margin in absence of demand uptick.
<strong>Credit Suisse on Steel:</strong> Indian companies were likely to hike prices for both flat and long products in December by $7-15 per tonne, said the brokerage. It added that Tata Steel, JSPL and JSW Steel would benefit from restocking as prices recover.
Credit Suisse on Steel: Indian companies were likely to hike prices for both flat and long products in December by $7-15 per tonne, said the brokerage. It added that Tata Steel, JSPL and JSW Steel would benefit from restocking as prices recover.
<strong>Morgan Stanley on Bharti Airtel:</strong> The brokerage was 'equalweight' on the stock with a target at Rs 410 per share. The brokerage awaits details of potential tariff hikes from both Airtel and Vodafone Idea. It assumes a 20 percent increase in FY21 ARPU for the company.
Morgan Stanley on Bharti Airtel: The brokerage was 'equalweight' on the stock with a target at Rs 410 per share. The brokerage awaits details of potential tariff hikes from both Airtel and Vodafone Idea. It assumes a 20 percent increase in FY21 ARPU for the company.
<strong>Morgan Stanley on Sobha:</strong> The brokerage was 'overweight' on the stock with a target at Rs 613 per share. It believes the share price will rise in absolute terms over the next 30 days. Business fundamentals remain strong with a steady pace of new launches, it further noted.
Morgan Stanley on Sobha: The brokerage was 'overweight' on the stock with a target at Rs 613 per share. It believes the share price will rise in absolute terms over the next 30 days. Business fundamentals remain strong with a steady pace of new launches, it further noted.
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