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Top brokerage calls for October 14: Credit Suisse bearish on Infosys after Q2 earnings, Jefferies cuts its target price

Updated : 2019-10-14 08:16:06

Indian shares are likely to open higher on Monday tracking gains in global markets following progress in the US-China trade negotiations. However, disappointing Q2 earnings from IT heavyweights and the World Bank’s poor growth forecast for India may weigh on the equities. Among brokerages, Credit Suisse has an 'underperform' call on Infosys, while Jefferies has a 'buy' rating. Here are the top brokerage calls for Monday:

<strong>CLSA on Indiabulls Housing:</strong> The brokerage has a 'buy' call on the stock but cut its target to Rs 350 per share from Rs 670 earlier. Liquid balance sheets and lower leverage lend confidence, according to the brokerage. It added that the next two weeks will be key with the upcoming repayment of masala bonds and court hearings.
CLSA on Indiabulls Housing: The brokerage has a 'buy' call on the stock but cut its target to Rs 350 per share from Rs 670 earlier. Liquid balance sheets and lower leverage lend confidence, according to the brokerage. It added that the next two weeks will be key with the upcoming repayment of masala bonds and court hearings.
<strong>Credit Suisse on Infosys:</strong> The brokerage has an 'underperform' call on the stock but raised its target to Rs 720 per share from Rs 690 earlier. Smaller verticals like telecom, energy, and manufacturing saw double-digit growth YoY, said the brokerage, adding that it cut the firm's FY20-22 EPS estimates by 2-5 percent on higher-than-expected retail weakness.
Credit Suisse on Infosys: The brokerage has an 'underperform' call on the stock but raised its target to Rs 720 per share from Rs 690 earlier. Smaller verticals like telecom, energy, and manufacturing saw double-digit growth YoY, said the brokerage, adding that it cut the firm's FY20-22 EPS estimates by 2-5 percent on higher-than-expected retail weakness.
<strong>Jefferies on Infosys:</strong> The brokerage has a 'buy' call on the stock but cut its target to Rs 915 per share from Rs 930 earlier. According to the brokerage, the company remains one of the best-placed among top tier IT companies and added that it will benefit from the tailwind of large-scale digital transformation.
Jefferies on Infosys: The brokerage has a 'buy' call on the stock but cut its target to Rs 915 per share from Rs 930 earlier. According to the brokerage, the company remains one of the best-placed among top tier IT companies and added that it will benefit from the tailwind of large-scale digital transformation.
<strong>HSBC on Infosys</strong>: The brokerage has a 'hold' rating on the stock with a target price at Rs 800 per share. Banking and retail demand trends show clear deceleration, said the brokerage adding that valuation gap to the company may go down further. Near-term earnings surprises are unlikely, HSBC noted.
HSBC on Infosys: The brokerage has a 'hold' rating on the stock with a target price at Rs 800 per share. Banking and retail demand trends show clear deceleration, said the brokerage adding that valuation gap to the company may go down further. Near-term earnings surprises are unlikely, HSBC noted.
<strong>Morgan Stanley on Avenue Supermarts:</strong> The brokerage is 'underweight' on the stock with a target at Rs 1,120 per share. The company missed earnings estimates for Q2, said the broekrage, adding that revenue growth was at 22 percent versus an expectation of 24 percent.
Morgan Stanley on Avenue Supermarts: The brokerage is 'underweight' on the stock with a target at Rs 1,120 per share. The company missed earnings estimates for Q2, said the broekrage, adding that revenue growth was at 22 percent versus an expectation of 24 percent.
<strong>Citi on Avenue Supermarts:</strong> The brokerage has a 'sell' call on the stock with target raised to Rs 1,550 per share from Rs 1,255 earlier. FY20-21 EPS estimates raised by 13-14 percent on the corporate tax cut, said the brokerage. It added that it sees no room for error on store expansion and operating metrics.
Citi on Avenue Supermarts: The brokerage has a 'sell' call on the stock with target raised to Rs 1,550 per share from Rs 1,255 earlier. FY20-21 EPS estimates raised by 13-14 percent on the corporate tax cut, said the brokerage. It added that it sees no room for error on store expansion and operating metrics.
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