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Top brokerage calls for June 18: Morgan Stanley 'underweight' on Yes Bank, cuts target price; CLSA bearish on OMCs

Updated : 2019-06-18 08:25:19

Indian benchmark indices are set to open flat on Tuesday amid mixed sentiment in Asian shares, ahead of the US Federal Reserve meet. On Monday, Sensex and Nifty 50 plunged over 1 percent each after India announced retaliatory tariffs on US goods on fears of trade wars. Among brokerages, Morgan Stanley has an 'overweight' call on HDFC AMC, while Citi remains 'neutral' on Piramal Enterprises. Credit Suisse is bullish on IndiGo and has raised the stock's target price. Citi prefers Phoenix Mills and Oberoi Realty amid realty stocks. Here are the top brokerage calls for Tuesday:

<strong>Morgan Stanley on Yes Bank</strong>: The brokerage maintained 'underweight' call on the stock with target cut to Rs 95 from Rs 125 per share. The company faces challenges on capital raise and due to rating downgrades, it added.
Morgan Stanley on Yes Bank: The brokerage maintained 'underweight' call on the stock with target cut to Rs 95 from Rs 125 per share. The company faces challenges on capital raise and due to rating downgrades, it added.
<strong>Morgan Stanley on HDFC AMC</strong>: The brokerage has an 'overweight' call on the stock with a target at Rs 2,000 per share. The company will provide liquidity arrangement to fixed maturity plans impacted by Essel exposure. The liquidity arrangement for Essel should benefit investors and improve sentiment, it added.
Morgan Stanley on HDFC AMC: The brokerage has an 'overweight' call on the stock with a target at Rs 2,000 per share. The company will provide liquidity arrangement to fixed maturity plans impacted by Essel exposure. The liquidity arrangement for Essel should benefit investors and improve sentiment, it added.
<strong>Credit Suisse on IndiGo:</strong> The brokerage maintained 'outperform' rating on the stock with target price raised to Rs 1,900 per share from Rs 1,800 earlier. It is positive on the company's positioning, sector, and modest competition. The brokerage upgraded the firm's earnings growth to 16 percent and 18 percent for FY20 and FY21, respectively.
Credit Suisse on IndiGo: The brokerage maintained 'outperform' rating on the stock with target price raised to Rs 1,900 per share from Rs 1,800 earlier. It is positive on the company's positioning, sector, and modest competition. The brokerage upgraded the firm's earnings growth to 16 percent and 18 percent for FY20 and FY21, respectively.
<strong>CLSA on Oil & Gas companies</strong>: The brokerage has a 'sell' call on all OMCs- IOC, BPCL, and HPCL. It has a 'buy' call on ONGC and Oil India as they offer much better risk-reward.
CLSA on Oil & Gas companies: The brokerage has a 'sell' call on all OMCs- IOC, BPCL, and HPCL. It has a 'buy' call on ONGC and Oil India as they offer much better risk-reward.
<strong>Citi on Piramal Enterprises:</strong> The brokerage has a 'neutral' call on the stock with a target at Rs 2,640 per share. Proceeds from Shriram stake sale could be used to capitalise the lending business, it added. Transaction does not remove the possibility of merger of Shriram companies, the brokerage further said.
Citi on Piramal Enterprises: The brokerage has a 'neutral' call on the stock with a target at Rs 2,640 per share. Proceeds from Shriram stake sale could be used to capitalise the lending business, it added. Transaction does not remove the possibility of merger of Shriram companies, the brokerage further said.
<strong>Citi on Realty Companies:</strong> Among realty stocks, Phoenix Mills and Oberoi Realty remain the brokerage's top picks given their healthy balance sheets. It has a 'sell' call on DLF, given the firm's expensive valuations.
Citi on Realty Companies: Among realty stocks, Phoenix Mills and Oberoi Realty remain the brokerage's top picks given their healthy balance sheets. It has a 'sell' call on DLF, given the firm's expensive valuations.
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