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CNBC-TV18 top brokerage calls for August 2: Morgan Stanley 'overweight' on Marico; CLSA cuts price target for Airtel

Updated : 2019-08-02 08:43:24

The Indian market is set to start on a weak note on Friday tracking global markets, which traded lower as US President Donald Trump announced the imposition of a 10 percent tariff on $300 billion of Chinese imports from September 1, escalating trade tensions between Washington and Beijing. Among brokerages, CLSA has a 'buy' call on Bharti Airtel but cut its price target. Morgan Stanley is 'overweight' on Marico while Credit Suisse is 'neutral' on Godrej Consumer. Here are the top brokerage calls for Friday:

<strong>Morgan Stanley on Bharti Airtel:</strong> The brokerage is 'equal-weight' on the stock with a target of Rs 360 per share. Indian wireless revenue and adjusted EBITDA largely in-line with estimates, it said, adding that 4G subscriber addition momentum was robust with 8.4 million additions in Q1.
Morgan Stanley on Bharti Airtel: The brokerage is 'equal-weight' on the stock with a target of Rs 360 per share. Indian wireless revenue and adjusted EBITDA largely in-line with estimates, it said, adding that 4G subscriber addition momentum was robust with 8.4 million additions in Q1.
<strong>CLSA on Bharti Airtel:</strong> The brokerage has a 'buy' call on the stock but has cut its target to Rs 390 per share from Rs 415 earlier. According to CLSA, Q1 results are a mixed bag, with its Indian operations led by mobile. India mobile revenue growth highlight of results, led by a 5 percent rise in ARPU, it added.
CLSA on Bharti Airtel: The brokerage has a 'buy' call on the stock but has cut its target to Rs 390 per share from Rs 415 earlier. According to CLSA, Q1 results are a mixed bag, with its Indian operations led by mobile. India mobile revenue growth highlight of results, led by a 5 percent rise in ARPU, it added.
<strong>Morgan Stanley on Marico:</strong> The brokerage is 'overweight' on the stock with a target of Rs 10 per share. Gross/EBITDA margin reported in Q1 is likely to sustain, which will help the company to deliver 21 percent earnings growth, the brokerage noted.
Morgan Stanley on Marico: The brokerage is 'overweight' on the stock with a target of Rs 10 per share. Gross/EBITDA margin reported in Q1 is likely to sustain, which will help the company to deliver 21 percent earnings growth, the brokerage noted.
<strong>CLSA on Marico:</strong> The brokerage is bullish on the stock and raised its target to Rs 475 per share from Rs 465 earlier. The company is CLSA's top pick in the sector.
CLSA on Marico: The brokerage is bullish on the stock and raised its target to Rs 475 per share from Rs 465 earlier. The company is CLSA's top pick in the sector.
<strong>Credit Suisse on Godrej Consumer:</strong> The brokerage has a 'neutral' call on the stock and cut the target to Rs 625 per share from Rs 650 earlier. According to Credit Suisse, pressure points across businesses continue and the only positive was that margins expanded in India and Indonesia.
Credit Suisse on Godrej Consumer: The brokerage has a 'neutral' call on the stock and cut the target to Rs 625 per share from Rs 650 earlier. According to Credit Suisse, pressure points across businesses continue and the only positive was that margins expanded in India and Indonesia.
<strong>Macquarie on Godrej Consumer:</strong> The brokerage maintains 'outperform' rating on the stock with a target of Rs 762 per share. Q1 operational performance broadly in-line and the management expects volume growth momentum to accelerate, it added.
Macquarie on Godrej Consumer: The brokerage maintains 'outperform' rating on the stock with a target of Rs 762 per share. Q1 operational performance broadly in-line and the management expects volume growth momentum to accelerate, it added.
<strong>Nomura on Apollo Tyres:</strong> The brokerage downgraded the stock to 'neutral' and lowered its target to Rs 170 per share. Demand outlook worsens and sharp OE decline mars outlook despite healthy growth in replacement, it noted.
Nomura on Apollo Tyres: The brokerage downgraded the stock to 'neutral' and lowered its target to Rs 170 per share. Demand outlook worsens and sharp OE decline mars outlook despite healthy growth in replacement, it noted.
<strong>Nomura on Ashok Leyland:</strong> The brokerage is 'neutral' on the stock but cut its target to Rs 72 per share. It sees the risk of steeper commercial cycle downcycle and said the next upcycle is unlikely to occur before FY22.
Nomura on Ashok Leyland: The brokerage is 'neutral' on the stock but cut its target to Rs 72 per share. It sees the risk of steeper commercial cycle downcycle and said the next upcycle is unlikely to occur before FY22.
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