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Top brokerage calls for July 26: CLSA maintains 'sell' call on Tata Motors; Credit Suisse upgrades Bank of Baroda

Updated : 2019-07-26 08:12:39

Indian shares are likely to open lower on Friday as poor June-quarter earnings and losses in global markets weigh on equities. Meanwhile, Asian shares were also trading marginally lower following mixed US corporate earnings. Among brokerages, CLSA has a 'sell' call on Tata Motors, while Jefferies remains bullish on the stock. CLSA upgraded Ambuja Cements to 'buy' whereas Credit Suisse upgraded Bank of Baroda to 'neutral. Here are the top brokerage calls for Friday:

<strong>CLSA on Tata Motors:</strong> The brokerage has a 'sell' call on the stock with the target cut to Rs 120 per share from Rs 140 earlier. The company reported the worst pre-exceptional loss before tax in a decade and the margin pressure has been more intense than expected, the brokerage said.
CLSA on Tata Motors: The brokerage has a 'sell' call on the stock with the target cut to Rs 120 per share from Rs 140 earlier. The company reported the worst pre-exceptional loss before tax in a decade and the margin pressure has been more intense than expected, the brokerage said.
<strong>Morgan Stanley on Tata Motors:</strong> The brokerage maintains 'equal-weight' call on the stock with a target of Rs 192 per share. Q1 results missed estimates ad JLR margins dipped, meanwhile, negative cash flow drove net debt higher, it added.
Morgan Stanley on Tata Motors: The brokerage maintains 'equal-weight' call on the stock with a target of Rs 192 per share. Q1 results missed estimates ad JLR margins dipped, meanwhile, negative cash flow drove net debt higher, it added.
<strong>Jefferies on Tata Motors:</strong> The brokerage has a 'buy' call on the stock with a target of Rs 200 per share. Standalone losses are lower than expected helped by sharp expansion in gross margin, Jefferies said, adding that commentary on China has improved with the management expecting growth ahead.
Jefferies on Tata Motors: The brokerage has a 'buy' call on the stock with a target of Rs 200 per share. Standalone losses are lower than expected helped by sharp expansion in gross margin, Jefferies said, adding that commentary on China has improved with the management expecting growth ahead.
<strong>Credit Suisse on Bank of Baroda</strong>: The brokerage upgraded the stock to 'neutral' with a target at Rs 115 per share. It expects profitability to remain muted due to the merger and quick re-rating is highly unlikely given the expected slow growth, it added.
Credit Suisse on Bank of Baroda: The brokerage upgraded the stock to 'neutral' with a target at Rs 115 per share. It expects profitability to remain muted due to the merger and quick re-rating is highly unlikely given the expected slow growth, it added.
<strong>CLSA on Bank of Baroda</strong>: The brokerage has a 'buy' rating on the stock but cut its target to Rs 135 per share from Rs 150 earlier. The key negative was higher slippages due to SME and Agri loans, the brokerage said, adding that the company could report a loss in FY20 and see a recovery thereafter.
CLSA on Bank of Baroda: The brokerage has a 'buy' rating on the stock but cut its target to Rs 135 per share from Rs 150 earlier. The key negative was higher slippages due to SME and Agri loans, the brokerage said, adding that the company could report a loss in FY20 and see a recovery thereafter.
<strong>Jefferies on Bajaj Finance:</strong> The brokerage has a 'buy' rating on the stock with a target at Rs 3,600 per share. The brokerage is positive as the loan growth remained strong and asset quality was stable on a quarter-on-quarter basis.
Jefferies on Bajaj Finance: The brokerage has a 'buy' rating on the stock with a target at Rs 3,600 per share. The brokerage is positive as the loan growth remained strong and asset quality was stable on a quarter-on-quarter basis.
<strong>CLSA on Oberoi Realty</strong>: The brokerage retained 'buy' rating on the stock with the target raised to Rs 664 per share from Rs 644 earlier. Steady execution and new launches from H2 should help drive up sales, it said.
CLSA on Oberoi Realty: The brokerage retained 'buy' rating on the stock with the target raised to Rs 664 per share from Rs 644 earlier. Steady execution and new launches from H2 should help drive up sales, it said.
<strong>Citi on Ambuja Cements:</strong> The brokerage is bullish on the stock with a target of Rs 290 per share. It said pricing pullback may be temporary and volumes should improve post-monsoon. Any growth announcement would be an upside trigger, it further added.
Citi on Ambuja Cements: The brokerage is bullish on the stock with a target of Rs 290 per share. It said pricing pullback may be temporary and volumes should improve post-monsoon. Any growth announcement would be an upside trigger, it further added.
<strong>CLSA on Amubja Cement:</strong> The brokerage upgraded the stock to 'buy' from 'outperform' and raised its target to Rs 265 per share from Rs 250 earlier. Strong cement pricing drove EBITDA/tonne to a multi-quarter high despite an 8 percent decline in volume, it said.
CLSA on Amubja Cement: The brokerage upgraded the stock to 'buy' from 'outperform' and raised its target to Rs 265 per share from Rs 250 earlier. Strong cement pricing drove EBITDA/tonne to a multi-quarter high despite an 8 percent decline in volume, it said.
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