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Top brokerage calls for October 15: CLSA, Macquarie bullish on HUL; HSBC upgrades Concor

Updated : 2019-10-15 08:17:41

FMCG major Hindustan Unilever on Monday reported a 21.18 percent rise in standalone net profit to Rs 1,848 crore for Q2 mainly driven by home care, and beauty and personal care verticals. CLSA and Macquarie were bullish on the stock and raised HUL’s target price. In other brokerage calls, Morgan Stanley was 'underweight' on Zee, while HSBC upgraded Concor to 'buy. Here are the top brokerage calls for Tuesday:

 CLSA on HUL:  The brokerage maintained an 'outperform' rating on the stock and raised its target price to Rs 2,250 per share from Rs 2,135 earlier. Q2 results exceeded on all counts, said the brokerage, adding that volume growth of 5 percent mirrored the current weakness but good in the context of the slowdown.
CLSA on HUL: The brokerage maintained an 'outperform' rating on the stock and raised its target price to Rs 2,250 per share from Rs 2,135 earlier. Q2 results exceeded on all counts, said the brokerage, adding that volume growth of 5 percent mirrored the current weakness but good in the context of the slowdown.
 Macquarie on HUL:  The brokerage gave an 'outperform' rating on the stock and raised its target to Rs 2,383 per share from Rs 2,041 earlier. Volume growth of 5 percent and EBITDA of 14 percent some of the best operational numbers, said the brokerage. It raised the company's FY19-22 EPS estimates by 4-6 percent on the lower tax.
Macquarie on HUL: The brokerage gave an 'outperform' rating on the stock and raised its target to Rs 2,383 per share from Rs 2,041 earlier. Volume growth of 5 percent and EBITDA of 14 percent some of the best operational numbers, said the brokerage. It raised the company's FY19-22 EPS estimates by 4-6 percent on the lower tax.
 JPMorgan on HUL:  The brokerage was 'neutral' on the stock with a target at Rs 2,120 per share. The operating performance was in-line with estimates in a tough market environment, said the brokerage. It also noted that the company's margin was aided by a benign commodity environment, improved mix and cost savings.
JPMorgan on HUL: The brokerage was 'neutral' on the stock with a target at Rs 2,120 per share. The operating performance was in-line with estimates in a tough market environment, said the brokerage. It also noted that the company's margin was aided by a benign commodity environment, improved mix and cost savings.
 Jefferies on HUL:  The brokerage gave a 'hold' rating on the stock with a target at Rs 2,020 per share. While the overall FMCG market slowed down, the company maintained its steady growth, said the brokerage. It left the company's estimates unchanged and noted that the firm continued to execute well in a tough macro environment.
Jefferies on HUL: The brokerage gave a 'hold' rating on the stock with a target at Rs 2,020 per share. While the overall FMCG market slowed down, the company maintained its steady growth, said the brokerage. It left the company's estimates unchanged and noted that the firm continued to execute well in a tough macro environment.
 HSBC on Concor:  The brokerage upgraded the stock to 'buy' from 'reduce' and raised its target to Rs 675 per share from Rs 337 earlier. According to the brokerage, potential privatisation is gathering momentum and the development is surprising, valuation-positive.
HSBC on Concor: The brokerage upgraded the stock to 'buy' from 'reduce' and raised its target to Rs 675 per share from Rs 337 earlier. According to the brokerage, potential privatisation is gathering momentum and the development is surprising, valuation-positive.
 Morgan Stanley on Zee Entertainment:  The brokerage gave an 'underweight' call on the stock with a target at Rs 248 per share. VTB Capital acquired the right to direct sale of the encumbered stake, said the brokerage, adding that invocation by VTB Capital could keep the stock volatile in the near term.
Morgan Stanley on Zee Entertainment: The brokerage gave an 'underweight' call on the stock with a target at Rs 248 per share. VTB Capital acquired the right to direct sale of the encumbered stake, said the brokerage, adding that invocation by VTB Capital could keep the stock volatile in the near term.
 Credit Suisse on Sun Pharma:  The brokerage gave a 'neutral' rating on the stock with a target at Rs 450 per share. It is cautious on the stock due to forensic audit on FY16-18 financials, litigation on Ranbaxy products, DOJ investigation on the price-increase case, and high contingent tax liabilities.
Credit Suisse on Sun Pharma: The brokerage gave a 'neutral' rating on the stock with a target at Rs 450 per share. It is cautious on the stock due to forensic audit on FY16-18 financials, litigation on Ranbaxy products, DOJ investigation on the price-increase case, and high contingent tax liabilities.
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