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Top brokerage calls for July 10: Credit Suisse, CLSA cut price target for TCS post Q1 results; Jefferies bearish on Yes Bank

Updated : 2019-07-10 08:04:28

Indian shares are set for a flat start on Wednesday amid muted trades in global markets and post-Budget selling pressure. Asian shares traded little changed following losses in US markets as investors await Fed chairman Jerome Powell's testimony before Congress for further cues on Federal Reserve’s monetary policy. At 7.18 AM, the SGX Nifty futures traded 0.10 percent up, pointing to a tepid start for the Sensex and the Nifty 50. Among brokerages, Credit Suisse and CLSA but target price for TCS post its Q1 earnings while Jefferies remained 'underweight' on Yes Bank. Here are the top brokerage calls for Wednesday:

<strong>Morgan Stanley on TCS:</strong> The brokerage maintains 'equal-weight' call on the stock with a target at Rs 1,980 per share. The first-quarter revenue growth is weaker-than-expected, it adds.
Morgan Stanley on TCS: The brokerage maintains 'equal-weight' call on the stock with a target at Rs 1,980 per share. The first-quarter revenue growth is weaker-than-expected, it adds.
<strong>Credit Suisse on TCS:</strong> According to the brokerage, TCS is likely to miss its 26-28 percent margin band once again this year. It cut the company's price target to Rs 2,000 per share from Rs 2,130 earlier.
Credit Suisse on TCS: According to the brokerage, TCS is likely to miss its 26-28 percent margin band once again this year. It cut the company's price target to Rs 2,000 per share from Rs 2,130 earlier.
<strong>CLSA on TCS:</strong> The brokerage maintained a 'buy' call on the stock but cut its target to Rs 2,570 per share from Rs 2,650 earlier. First-quarter revenue and margin a miss, but outlook remains strong, it added.
CLSA on TCS: The brokerage maintained a 'buy' call on the stock but cut its target to Rs 2,570 per share from Rs 2,650 earlier. First-quarter revenue and margin a miss, but outlook remains strong, it added.
<strong>Jefferies on Yes Bank:</strong> The brokerage has 'underperform' call on the stock and slashed its target to Rs 80 per share from Rs 155 per share. It said the company's below investment grade book has inched up materially.
Jefferies on Yes Bank: The brokerage has 'underperform' call on the stock and slashed its target to Rs 80 per share from Rs 155 per share. It said the company's below investment grade book has inched up materially.
<strong>Credit Suisse on IndiGo:</strong> The brokerage said the RG-IGE dispute has the potential of lingering on and becoming a significant headwind, adding that, the dispute hasn's had an operational impact so far, but can't rule one out.
Credit Suisse on IndiGo: The brokerage said the RG-IGE dispute has the potential of lingering on and becoming a significant headwind, adding that, the dispute hasn's had an operational impact so far, but can't rule one out.
<strong>Citi on IndiGo</strong>: The brokerage said the uncertainty in IndiGo regarding the final resolution could cause weakness in the stock. It reiterates its 'sell' recommendation on the stock.
Citi on IndiGo: The brokerage said the uncertainty in IndiGo regarding the final resolution could cause weakness in the stock. It reiterates its 'sell' recommendation on the stock.
<strong>Morgan Stanley on Bajaj Finance:</strong> The brokerage maintained 'equal-weight' call on the stock and said weak Q1 growth could have impacted full-year new customer growth. Target price at Rs 2,950 per share.
Morgan Stanley on Bajaj Finance: The brokerage maintained 'equal-weight' call on the stock and said weak Q1 growth could have impacted full-year new customer growth. Target price at Rs 2,950 per share.
<strong>Nomura on Autos:</strong> Lower commodity prices will support margin by 50-100 bps in the first and second quarter, said the brokerage. It expects a positive surprise from Ashok Leyland, Hero MotoCorp and Exide Industries.
Nomura on Autos: Lower commodity prices will support margin by 50-100 bps in the first and second quarter, said the brokerage. It expects a positive surprise from Ashok Leyland, Hero MotoCorp and Exide Industries.
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