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Top brokerage calls for June 21: Morgan Stanley downgrades Godrej Properties, Deutsche Bank bullish on UPL

Updated : 2019-06-21 08:31:15

Indian benchmark indices are likely to open flat on Friday amid cautious trades in Asia over US-China trade tensions and rise in crude oil prices despite a record rally in US stocks. On Thursday, the benchmark indices ended higher led by buying in banking, auto, metals and pharma stocks. Among brokerages, Morgan Stanley downgraded Godrej Properties to 'underweight, while Deutsche Bank remained bullish on UPL. Credit Suisse and Morgan Stanley said capping of H1-B visa will prove problematic for the Indian companies. Here are the other top brokerage calls for Friday:

<strong>Morgan Stanley on Godrej Properties</strong>: The brokerage downgraded the stock to 'underweight' from 'equal-weight' but raised its target to Rs 802 per share from Rs 707 per share. It said the downgrade reflects their relative preference within their coverage universe.
Morgan Stanley on Godrej Properties: The brokerage downgraded the stock to 'underweight' from 'equal-weight' but raised its target to Rs 802 per share from Rs 707 per share. It said the downgrade reflects their relative preference within their coverage universe.
<strong>Deutsche Bank on UPL:</strong> The brokerage maintained a 'buy' call on the stock with a target price of Rs 1,050 per share. It said the business outlook of the company looks strong and sharp.
Deutsche Bank on UPL: The brokerage maintained a 'buy' call on the stock with a target price of Rs 1,050 per share. It said the business outlook of the company looks strong and sharp.
<strong>Morgan Stanley on IT companies</strong>: The brokerage said Indian companies will find it tough to meet demand and maintain margin if the H-1B visa cap is imposed.
Morgan Stanley on IT companies: The brokerage said Indian companies will find it tough to meet demand and maintain margin if the H-1B visa cap is imposed.
<strong>Credit Suisse on IT companies</strong>: Credit Suisse said if the cap on H1B visas is imposed, it will severely curtail onsite project delivery.
Credit Suisse on IT companies: Credit Suisse said if the cap on H1B visas is imposed, it will severely curtail onsite project delivery.
<strong>CLSA on Oil & Gas</strong>: The brokerage says Indian demand is flat, there is a cut in global demand forecasts. It advises exiting all IOC, BPCL, and HPCL.
CLSA on Oil & Gas: The brokerage says Indian demand is flat, there is a cut in global demand forecasts. It advises exiting all IOC, BPCL, and HPCL.
<strong>CLSA on TVS Motor</strong>: The brokerage maintained a 'sell' call on the stock with a target price of Rs 360 per share. It said the company’s working capital worsened in FY19.
CLSA on TVS Motor: The brokerage maintained a 'sell' call on the stock with a target price of Rs 360 per share. It said the company’s working capital worsened in FY19.
<strong>Citi on Balkrishna Industries:</strong> The brokerage has a 'buy' rating on the stock but slashed its target price to Rs 1,080 per share from Rs 1,110 per share earlier. It says a weak global demand will likely put downward pressure on pricing.
Citi on Balkrishna Industries: The brokerage has a 'buy' rating on the stock but slashed its target price to Rs 1,080 per share from Rs 1,110 per share earlier. It says a weak global demand will likely put downward pressure on pricing.
<strong>Deutsche Bank on Pharma companies:</strong> The brokerage has a 'buy' call on Aurobindo Pharma, Cipla, and Torrent Pharma, and maintains 'hold' call on Sun Pharma, Lupin, Dr Reddy's. It forecasts 13 percent CAGR for India revenues over the next 2 years.
Deutsche Bank on Pharma companies: The brokerage has a 'buy' call on Aurobindo Pharma, Cipla, and Torrent Pharma, and maintains 'hold' call on Sun Pharma, Lupin, Dr Reddy's. It forecasts 13 percent CAGR for India revenues over the next 2 years.
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