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Top brokerage calls for October 23: Credit Suisse 'neutral' on Kotak Bank, Bajaj Finance; Morgan Stanley cuts TP for RBL Bank

Updated : 2019-10-23 08:55:06

Axis Bank reported a loss of Rs 112.1 crore, due to a one-time tax impact of Rs 2,138 crore. RBL Bank's profit fell sharply by 73.4 percent year-on-year due to a sharp spike in provisions. Among brokerages, Credit Suisse remained ‘neutral’ on Kotak Bank and Bajaj Finance, and raised the target price for the two stocks. Here are the top brokerage calls for today

 Morgan Stanley on RBL Bank:  The brokerage gave an 'underperform' call on the stock and cut its target to Rs 240 per share from Rs 400 earlier. The brokerage reduced the bank's EPS estimates due to higher NPLs and slower growth. Expect return-on-equity to remain it in low teens, it added.
Morgan Stanley on RBL Bank: The brokerage gave an 'underperform' call on the stock and cut its target to Rs 240 per share from Rs 400 earlier. The brokerage reduced the bank's EPS estimates due to higher NPLs and slower growth. Expect return-on-equity to remain it in low teens, it added.
 Credit Suisse on Kotak Mahindra Bank:  The brokerage was 'neutral' on the stock and raised its target to Rs 1,450 per share from Rs 1,340 earlier. It said that the bank's earnings were boosted by tax-cut gains and improvement in interest margins. It also added that a stronger margin outlook will offset any earnings impact.
Credit Suisse on Kotak Mahindra Bank: The brokerage was 'neutral' on the stock and raised its target to Rs 1,450 per share from Rs 1,340 earlier. It said that the bank's earnings were boosted by tax-cut gains and improvement in interest margins. It also added that a stronger margin outlook will offset any earnings impact.
 Credit Suisse on Bajaj Finance:  The brokerage gave a 'neutral' rating on the stock and raised its target price to Rs 3,850 per share from Rs 3,530 earlier. According to the brokerage, the company's growth momentum in Q2 continued to remain strong. However, the brokerage cut EPS estimates by 1-3 percent on the back of higher credit costs for FY20.
Credit Suisse on Bajaj Finance: The brokerage gave a 'neutral' rating on the stock and raised its target price to Rs 3,850 per share from Rs 3,530 earlier. According to the brokerage, the company's growth momentum in Q2 continued to remain strong. However, the brokerage cut EPS estimates by 1-3 percent on the back of higher credit costs for FY20.
 JP Morgan On Bajaj Finance:  The brokerage maintained the 'overweight' rating on the stock and raised its target to Rs 4,500 per share from Rs 3,800 earlier. According to the brokerage, the company's Q2 earnings was another strong show on loan growth. It upgraded FY20/21 EPS estimates by 9-10 percent.
JP Morgan On Bajaj Finance: The brokerage maintained the 'overweight' rating on the stock and raised its target to Rs 4,500 per share from Rs 3,800 earlier. According to the brokerage, the company's Q2 earnings was another strong show on loan growth. It upgraded FY20/21 EPS estimates by 9-10 percent.
 JP Morgan On Axis Bank:  The brokerage maintained 'neutral' on the stock with a target at Rs 790 per share. Operating growth remained strong and slippages must reduce for stock re-rating, said the brokerage.
JP Morgan On Axis Bank: The brokerage maintained 'neutral' on the stock with a target at Rs 790 per share. Operating growth remained strong and slippages must reduce for stock re-rating, said the brokerage.
 Credit Suisse on Jubilant Foodworks:  The brokerage maintained 'underperform' on the stock but increased the TP to Rs 1,300 per share. The brokerage said it expects a downside risk to the same-store-sales growth. The margin will likely remain under pressure due to operating leverage, added Credit Suisse.
Credit Suisse on Jubilant Foodworks: The brokerage maintained 'underperform' on the stock but increased the TP to Rs 1,300 per share. The brokerage said it expects a downside risk to the same-store-sales growth. The margin will likely remain under pressure due to operating leverage, added Credit Suisse.
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