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Top brokerage calls for November 8: Nomura bullish on HPCL, Credit Suisse slashes target price for Indiabulls Housing

Updated : 2019-11-08 08:32:30

The benchmark indices are likely to open in the red on Friday as rating agency Moody's has cut India's outlook to 'negative' from 'stable' amid concerns that the country’s economic growth will remain “materially lower than in the past". Among brokerages, Credit Suisse has slashed target price of Indiabulls Housing post Q2 earnings while Citi has maintained 'buy' on UPL. Here are the top brokerage calls for Friday:

<strong>Nomura on HPCL</strong>: The brokerage has a 'buy' rating on the stock with a target of Rs 340 per share. The near-term focus will be on the government's planned stake sale in OMCs, said the brokerage, adding that privatisation could lead to rerating of OMCs.
Nomura on HPCL: The brokerage has a 'buy' rating on the stock with a target of Rs 340 per share. The near-term focus will be on the government's planned stake sale in OMCs, said the brokerage, adding that privatisation could lead to rerating of OMCs.
<strong>Citi on UPL:</strong> The brokerage has a 'buy' call on the stock but has cut its target to Rs 770 per share from Rs 800 earlier. It noted that the margin weakness should reverse to a large extent in H2FY20 and expects Arysta deal to add significant value.
Citi on UPL: The brokerage has a 'buy' call on the stock but has cut its target to Rs 770 per share from Rs 800 earlier. It noted that the margin weakness should reverse to a large extent in H2FY20 and expects Arysta deal to add significant value.
<strong>Credit Suisse on Indiabulls Housing:</strong> The brokerage is 'neutral' on the stock but has reduced its target to Rs 230 per share from Rs 460 earlier. It also cut the stocks EPS estimates by 14-31 percent.
Credit Suisse on Indiabulls Housing: The brokerage is 'neutral' on the stock but has reduced its target to Rs 230 per share from Rs 460 earlier. It also cut the stocks EPS estimates by 14-31 percent.
<strong>CLSA on Sun Pharma</strong>: The brokerage maintains a 'buy' rating on the stock with a target at Rs 540 per share. It added that strong execution on the ramp-up of specialty pipeline can drive a rerating.
CLSA on Sun Pharma: The brokerage maintains a 'buy' rating on the stock with a target at Rs 540 per share. It added that strong execution on the ramp-up of specialty pipeline can drive a rerating.
<strong>Morgan Stanley on Sun Pharma</strong>: The brokerage is overweight on the stock and has raised its target to Rs 530 per share from Rs 505 earlier. The brokerage has also raised its FY20 estimates by 4.9 percent to account for a strong H1 result. It added that the company remains its top pick in the pharma space.
Morgan Stanley on Sun Pharma: The brokerage is overweight on the stock and has raised its target to Rs 530 per share from Rs 505 earlier. The brokerage has also raised its FY20 estimates by 4.9 percent to account for a strong H1 result. It added that the company remains its top pick in the pharma space.
<strong>CLSA on Power Grid:</strong> The brokerage has an 'outperform' rating on the stock with a target of Rs 230 per share. A big decline seen in capex on extended monsoon, said the brokerage, adding that regulatory pipeline of $6.8 billion is not enough to grow on a high base.
CLSA on Power Grid: The brokerage has an 'outperform' rating on the stock with a target of Rs 230 per share. A big decline seen in capex on extended monsoon, said the brokerage, adding that regulatory pipeline of $6.8 billion is not enough to grow on a high base.
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