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Top brokerage calls for July 19: CLSA raises price target for ACC, Morgan Stanley 'underweight' on Colgate

Updated : 2019-07-19 08:25:07

Indian benchmark indices are set for a positive start on Friday supported by gains in the global markets after comments by a US Federal Reserve official raised prospects of a rate cut by the central bank. The BSE Sensex and NSE’s Nifty 50 settled nearly 1 percent lower in the previous session dragged by banking stocks after Yes Bank’s poor Q1 results. Among brokerages, CLSA maintained 'buy' on ACC and raised its price target post its June-quarter numbers. Morgan Stanley is 'underweight' on Colgate, while Jefferies has a 'hold' call on the stock. Here are the top brokerage calls for Friday:

<strong>CLSA on ACC</strong>: The brokerage remained bullish on the stock and raised its target price to Rs 2,050 from Rs 2,000 per share. It raised EPS forecast by 3-4 percent and said that cement pricing is a key stock price driver.
CLSA on ACC: The brokerage remained bullish on the stock and raised its target price to Rs 2,050 from Rs 2,000 per share. It raised EPS forecast by 3-4 percent and said that cement pricing is a key stock price driver.
<strong>Nomura on ACC:</strong> The brokerage has a 'buy' call on the stock with a target of Rs 1,750 per share. June-quarter result significantly ahead of consensus, it said, adding that price cuts are likely given the demand is weak.
Nomura on ACC: The brokerage has a 'buy' call on the stock with a target of Rs 1,750 per share. June-quarter result significantly ahead of consensus, it said, adding that price cuts are likely given the demand is weak.
<strong>CLSA on Colgate</strong>: The brokerage is positive on the stock with the target at Rs 1,400 per share. June-quarter volume is in line with estimates, however, the slight decline in toothpaste market share is an irritant, it said.
CLSA on Colgate: The brokerage is positive on the stock with the target at Rs 1,400 per share. June-quarter volume is in line with estimates, however, the slight decline in toothpaste market share is an irritant, it said.
<strong>Morgan Stanley on Colgate:</strong> The brokerage is 'underweight' on the stock with a target at Rs 1,035 per share. It said that 90 percent of the company's products are exposed to disruption and it faces a higher risk of disruption as compared to homegrown peers.
Morgan Stanley on Colgate: The brokerage is 'underweight' on the stock with a target at Rs 1,035 per share. It said that 90 percent of the company's products are exposed to disruption and it faces a higher risk of disruption as compared to homegrown peers.
<strong>Jefferies on Colgate</strong>: The brokerage has a 'hold' rating on the stock with a target of Rs 1,365 per share. The brokerage said that the valuations are reasonable relative to the sector and absolute downside looks limited post recent correction.
Jefferies on Colgate: The brokerage has a 'hold' rating on the stock with a target of Rs 1,365 per share. The brokerage said that the valuations are reasonable relative to the sector and absolute downside looks limited post recent correction.
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