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Top brokerage calls for August 5: CLSA, Citi bullish on SBI, cut price target; Morgan Stanley 'overweight' on ITC

Updated : 2019-08-05 08:16:57

Indian benchmark indices are likely to open lower on Monday, tracking weakness in Asian peers, due to escalating Sino-US trade tension, weak corporate earnings and continued selling by foreign investors in domestic equities. Among brokerages, CLSA and Citi are bullish on SBI but cut its price target, while, Morgan Stanley is 'overweight' on ITC. Here are the top brokerage calls for Monday:

<strong>CLSA on SBI:</strong> The brokerage has a 'buy' call on the stock but cut its target to Rs 380 per share from Rs 420 earlier. Q1 net profit below expectations due to higher credit cost and rise in slippages disappointed, the brokerage added.
CLSA on SBI: The brokerage has a 'buy' call on the stock but cut its target to Rs 380 per share from Rs 420 earlier. Q1 net profit below expectations due to higher credit cost and rise in slippages disappointed, the brokerage added.
<strong>Citi on SBI:</strong> The brokerage has a 'buy' call on the stock but slashed its target price to Rs 400 per share from Rs 415 earlier. Loan growth was healthy at 14 percent driven by retail but slippages increased in the June quarter, the brokerage said.
Citi on SBI: The brokerage has a 'buy' call on the stock but slashed its target price to Rs 400 per share from Rs 415 earlier. Loan growth was healthy at 14 percent driven by retail but slippages increased in the June quarter, the brokerage said.
<strong>Morgan Stanley on ITC:</strong> The brokerage is overweight on the stock with a target at Rs 360 per share. June quarter results were weaker than expected and except for FMCG, EBIT growth across all business segments missed estimate, the brokerage added.
Morgan Stanley on ITC: The brokerage is overweight on the stock with a target at Rs 360 per share. June quarter results were weaker than expected and except for FMCG, EBIT growth across all business segments missed estimate, the brokerage added.
<strong>HSBC on ITC:</strong> The brokerage is bullish on the stock but cut its target to Rs 320 per share from Rs 330 pearlier. It added that June quarter cigarette volume growth of 3-4 percent was slightly below expectations.
HSBC on ITC: The brokerage is bullish on the stock but cut its target to Rs 320 per share from Rs 330 pearlier. It added that June quarter cigarette volume growth of 3-4 percent was slightly below expectations.
<strong>Citi on HDFC</strong>: The brokerage has a 'buy' call on the stock and raised its target to Rs 2,570 per share from Rs 2,360 earlier. Some of the large HFCs are going slow, which should help the company grow on the asset side, the brokerage noted.
Citi on HDFC: The brokerage has a 'buy' call on the stock and raised its target to Rs 2,570 per share from Rs 2,360 earlier. Some of the large HFCs are going slow, which should help the company grow on the asset side, the brokerage noted.
<strong>Jefferies on HDFC:</strong> The brokerage is bullish on the stock and raised its target price to Rs 2,435 per share from Rs 2,310 earlier. Bottomline was boosted by Gruh Stake Sale, even though growth slowed, the brokerage said, adding that it is cautious on its non-retail loan growth.
Jefferies on HDFC: The brokerage is bullish on the stock and raised its target price to Rs 2,435 per share from Rs 2,310 earlier. Bottomline was boosted by Gruh Stake Sale, even though growth slowed, the brokerage said, adding that it is cautious on its non-retail loan growth.
<strong>CLSA on Nestle India:</strong> The brokerage maintains 'outperform' on the stock and raised its target to Rs 12,415 from Rs 11,750 per share. The quarter clearly indicates management's rising obsession with growth, which is the key negative, it added.
CLSA on Nestle India: The brokerage maintains 'outperform' on the stock and raised its target to Rs 12,415 from Rs 11,750 per share. The quarter clearly indicates management's rising obsession with growth, which is the key negative, it added.
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