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CNBC-TV18 top brokerage calls for August 14: Citi bearish on Dr Reddy's; HSBC maintains 'hold' on Sun Pharma

Updated : 2019-08-14 08:16:35

Indian shares are likely to open in the green on Wednesday, tracking gains in Asian markets, after the US delayed tariffs on some Chinese imports. Sentiment may also remain positive after lower July CPI data boosted chances of a rate cut by the RBI. Among brokerages, CLSA has a 'buy' call on Sun Pharma and 'sell' rating on Bharat Forge whereas Citi has cut its price target for Dr. Reddy's. Here are the top brokerage calls for Wednesday:

<strong>CLSA on Sun Pharma:</strong> The brokerage has a 'buy' rating on the stock but raised its target price to Rs 540 per share from Rs 520 earlier. Investor focus will be on the ramp-up of its specialty pipeline, it said, adding that strong execution could drive re-rating.
CLSA on Sun Pharma: The brokerage has a 'buy' rating on the stock but raised its target price to Rs 540 per share from Rs 520 earlier. Investor focus will be on the ramp-up of its specialty pipeline, it said, adding that strong execution could drive re-rating.
<strong>HSBC on Sun Pharma:</strong> The brokerage has a 'hold' rating on the stock with a target price of Rs 400 per share. Cost pressure to continue due to ongoing spend for Ilumya and Cequa, HSBC said. It also added that the execution of speciality launches remain key for sustainable earnings growth.
HSBC on Sun Pharma: The brokerage has a 'hold' rating on the stock with a target price of Rs 400 per share. Cost pressure to continue due to ongoing spend for Ilumya and Cequa, HSBC said. It also added that the execution of speciality launches remain key for sustainable earnings growth.
<strong>CLSA on Bharat Forge</strong>: The brokerage has a 'sell' rating on the stock with its target price cut to Rs 350 from Rs 390 per share. This is the company's first year-on-year earnings decline after eight quarters of double-digit growth, it said, adding that high likelihood of a downturn in 3 segments forming 65 percent of standalone revenue.
CLSA on Bharat Forge: The brokerage has a 'sell' rating on the stock with its target price cut to Rs 350 from Rs 390 per share. This is the company's first year-on-year earnings decline after eight quarters of double-digit growth, it said, adding that high likelihood of a downturn in 3 segments forming 65 percent of standalone revenue.
<strong>Jefferies on ONGC</strong>: The brokerage has a 'buy' call on ONGC but cut its target price to Rs 180 per share from Rs 185 earlier. It added that earnings momentum may soften in H2 as realisations fall.
Jefferies on ONGC: The brokerage has a 'buy' call on ONGC but cut its target price to Rs 180 per share from Rs 185 earlier. It added that earnings momentum may soften in H2 as realisations fall.
<strong>Macquarie on Apollo Hospitals:</strong> The brokerage has an 'outperform' rating on the stock with a target price of Rs 1,636 per share. The operating performance continues to improve as steps taken by promoters to resolve leverage situation provides relief, the brokerage said.
Macquarie on Apollo Hospitals: The brokerage has an 'outperform' rating on the stock with a target price of Rs 1,636 per share. The operating performance continues to improve as steps taken by promoters to resolve leverage situation provides relief, the brokerage said.
<strong>Ambit on Info Edge:</strong> The brokerage maintains 'buy' rating on the stock with a target price of Rs 2,565 per share. Q1 revenue exceeded expectations, it said, adding that the dominant position is underscored by its robust billing growth.
Ambit on Info Edge: The brokerage maintains 'buy' rating on the stock with a target price of Rs 2,565 per share. Q1 revenue exceeded expectations, it said, adding that the dominant position is underscored by its robust billing growth.
<strong>Citi on Dr Reddy's:</strong> The brokerage has a 'sell' rating on the stock with target cut to Rs 2,375 from Rs 2,540 earlier. It said that Nuvaring launch is unlikely before mid CY20 and further delay cant be ruled out.
Citi on Dr Reddy's: The brokerage has a 'sell' rating on the stock with target cut to Rs 2,375 from Rs 2,540 earlier. It said that Nuvaring launch is unlikely before mid CY20 and further delay cant be ruled out.
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