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Top brokerage calls for November 7: CLSA upgrades Godrej Consumer to 'buy', Credit Suisse cuts Lupin's target price

Updated : 2019-11-07 08:07:26

The Indian market is expected to open in green on Thursday after the government announced a major booster for the real estate sector. The Union government will invest Rs 10,000 crore in the Rs 25,000 crore alternative investment fund (AIF) for the completion of stalled housing projects in the affordable and middle-income housing sector. Among brokerages, Credit Suisse cut Lupin's target price, while CLSA upgraded Godrej Consumer to 'buy'. Here are the top brokerage calls for Thursday:

<strong>Credit Suisse on Lupin:</strong> The brokerage maintained 'outperform' call on the stock but cut its target to Rs 850 per share from Rs 860 earlier. Growth over the next two quarters should be driven by Levo ramp-up, said the broekrage, adding that they like the company's story but key catalysts have been pushed out to H1FY21.
Credit Suisse on Lupin: The brokerage maintained 'outperform' call on the stock but cut its target to Rs 850 per share from Rs 860 earlier. Growth over the next two quarters should be driven by Levo ramp-up, said the broekrage, adding that they like the company's story but key catalysts have been pushed out to H1FY21.
<strong>CLSA on Godrej Consumer:</strong> The brokerage upgraded the stock to 'buy' from 'underperform' and raised the target to Rs 900 from Rs 700 earlier. According to the brokerage, focus on growth and new launches will be a step in the right direction for the company.
CLSA on Godrej Consumer: The brokerage upgraded the stock to 'buy' from 'underperform' and raised the target to Rs 900 from Rs 700 earlier. According to the brokerage, focus on growth and new launches will be a step in the right direction for the company.
<strong>HSBC on Divi's Labs:</strong> The brokerage put a 'hold' rating on the stock and cut its target to Rs 1,725 per share from Rs 1,780 earlier. The company expects 10 percent YoY growth for revenues in FY20, said the brokerage, adding that the company's sales growth pick-up may start in mid-to-late FY21.
HSBC on Divi's Labs: The brokerage put a 'hold' rating on the stock and cut its target to Rs 1,725 per share from Rs 1,780 earlier. The company expects 10 percent YoY growth for revenues in FY20, said the brokerage, adding that the company's sales growth pick-up may start in mid-to-late FY21.
<strong>Nomura on Tech Mahindra:</strong> The brokerage maintained 'neutral' call on the stock and raised its target to Rs 775 per share from Rs 700 earlier. The brokerage raised its earnings per share (EPS) estimates by 2-5 percent on higher revenues, adding that the company remained its top pick in tier-I IT space.
Nomura on Tech Mahindra: The brokerage maintained 'neutral' call on the stock and raised its target to Rs 775 per share from Rs 700 earlier. The brokerage raised its earnings per share (EPS) estimates by 2-5 percent on higher revenues, adding that the company remained its top pick in tier-I IT space.
<strong>Nomura on Exide:</strong> The brokerage upgraded the stock to 'buy' from 'neutral' and raised its target to Rs 222 per share from Rs 203 earlier. The brokerage said steady growth will likely continue and attractive valuations make risk-reward favourable. It also expects the company to deliver an 8 percent volume CAGR over FY20-22.
Nomura on Exide: The brokerage upgraded the stock to 'buy' from 'neutral' and raised its target to Rs 222 per share from Rs 203 earlier. The brokerage said steady growth will likely continue and attractive valuations make risk-reward favourable. It also expects the company to deliver an 8 percent volume CAGR over FY20-22.
<strong>CLSA on Emami:</strong> The brokerage put a 'buy' rating on the stock with a target at Rs 400 per share. Resolution of group-level issues and growth pick-up are a must for the stock to perform, according to the brokerage.
CLSA on Emami: The brokerage put a 'buy' rating on the stock with a target at Rs 400 per share. Resolution of group-level issues and growth pick-up are a must for the stock to perform, according to the brokerage.
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