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Top brokerage calls for December 3: Morgan Stanley upgrades Bharti Airtel; CLSA retains 'sell' call on Vodafone Idea

Updated : 2019-12-03 08:14:40

Indian shares are expected to open lower on Tuesday, following the negative trend in the global markets led by US President Donald Trump announcing tariffs against Brazil and Argentina. Among brokerages, Morgan Stanley upgraded Bharti Airtel, while CLSA retains 'sell' call on Vodafone Idea. Here are the top brokerage calls for Tuesday:

<strong>Morgan Stanley on Bharti Airtel:</strong> The brokerage upgraded the stock to 'overweight' and raised its target price to Rs 530 per share from Rs 410 earlier. The brokerage sees an improvement in profitability and balance sheet repair over the next few years.
Morgan Stanley on Bharti Airtel: The brokerage upgraded the stock to 'overweight' and raised its target price to Rs 530 per share from Rs 410 earlier. The brokerage sees an improvement in profitability and balance sheet repair over the next few years.
<strong>CLSA on Bharti Airtel:</strong> The brokerage had a 'buy' call on the stock with target raised to Rs 560 per share from Rs 515 earlier. The brokerage forecasts 24 percent EBITDA CAGR and free cashflows at Rs 44,400 crore over FY21-22.
CLSA on Bharti Airtel: The brokerage had a 'buy' call on the stock with target raised to Rs 560 per share from Rs 515 earlier. The brokerage forecasts 24 percent EBITDA CAGR and free cashflows at Rs 44,400 crore over FY21-22.
<strong>CLSA on Vodafone Idea:</strong> The brokerage retained 'sell' call on the stock but raised its target to Rs 6.5 per share from Rs 5.5 earlier. The brokerage said it is now factoring in 40 percent tariff hikes by FY22 but the key challenge remains market share loss.
CLSA on Vodafone Idea: The brokerage retained 'sell' call on the stock but raised its target to Rs 6.5 per share from Rs 5.5 earlier. The brokerage said it is now factoring in 40 percent tariff hikes by FY22 but the key challenge remains market share loss.
<strong>Morgan Stanley on Biocon: </strong>The brokerage was 'overweight' on the stock with a target at Rs 350 per share. It added that the management has reiterated its $1 billion biosimilar sales target for FY22.
Morgan Stanley on Biocon: The brokerage was 'overweight' on the stock with a target at Rs 350 per share. It added that the management has reiterated its $1 billion biosimilar sales target for FY22.
<strong>Citi on Biocon:</strong> The brokerage had a 'buy' rating on the stock with a target at Rs 350 per share. According to Citi, the company's move is the best Indian play on global biosimilars opportunity and expects a meaningful pick-up in earnings momentum over H2FY20.
Citi on Biocon: The brokerage had a 'buy' rating on the stock with a target at Rs 350 per share. According to Citi, the company's move is the best Indian play on global biosimilars opportunity and expects a meaningful pick-up in earnings momentum over H2FY20.
<strong>Citi on Coal India:</strong> The brokerage had a 'buy' rating on the stock with a target at Rs 270 per share. It said that risk-reward is favourable with an attractive yield.
Citi on Coal India: The brokerage had a 'buy' rating on the stock with a target at Rs 270 per share. It said that risk-reward is favourable with an attractive yield.
<strong>Nomura on M&M:</strong> The brokerage maintained 'buy' rating on the stock with a target at Rs 704 per share. It expected tractor segment growth to turn positive by Q4.
Nomura on M&M: The brokerage maintained 'buy' rating on the stock with a target at Rs 704 per share. It expected tractor segment growth to turn positive by Q4.
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