HomePhotos NewsMarket NewsStocks NewsTop brokerage calls for November 6: CLSA downgrades Titan; Credit Suisse raises target price for Dabur

Top brokerage calls for November 6: CLSA downgrades Titan; Credit Suisse raises target price for Dabur

SUMMARY

Indian shares are expected to open lower on Wednesday as SGX Nifty, an indicator of the opening for the Sensex and the Nifty, traded lower by 23 points or 0.19 percent at 6:55 AM, hinting at a negative start for the domestic market. Among brokerage calls, Titan received mixed calls. CLSA downgraded the stock by cutting its target price while Credit Suisse maintained its stance. Dabur's target price was raised by CLSA and Credit Suisse on the back of better margins and in-line Q2 volumes. Here are the top brokerage calls for today:

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By CNBC-TV18 November 6, 2019, 8:13:22 AM IST (Published)

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Credit Suisse on PNB: The brokerage maintained an 'underperform' rating on the stock with the target price cut to Rs 55 per share from Rs 65 earlier. According to the brokerage, the loan growth was muted and pre-provision profitability was weak.

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UBS On Tech Mahindra: The brokerage has maintained a 'neutral' rating on the stock at a target price of Rs 680. The company expects revenue momentum to be strong in H2FY20 and margin at 100-150 bps below FY19 levels, said the brokerage.

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Credit Suisse on Titan: The brokerage maintained a 'neutral' rating on the stock with a target of Rs 1,110 per share. According to the brokerage, the subdued festive sales led to a cut in FY20 guidance. The company faced risks of further cuts to the lowered H2 expectations, it added.

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Credit Suisse on Dabur: Credit Suisse maintained an 'outperform' call on Dabur and it remains positive on the company over medium-term. The target price was raised to Rs 535 from Rs 490 earlier. The brokerage believes that benign input costs and international business could help margin expansion in H2.

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CLSA On Titan: CLSA downgraded the stock to 'sell' with the target cut to Rs 1,025 from Rs 1,350 earlier. The brokerage said that the Q2 was a disappointment on almost all fronts. It reduced EPS forecasts by 12-16 percent.

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CLSA On Dabur: CLSA maintained the stock to 'buy' by raising the target price to Rs 575 from Rs 515 earlier. The worst may be over as there has been a sequential improvement, it said.

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