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Friday's top brokerage calls: Cipla, GAIL, Gujarat Gas and more

Friday's top brokerage calls: Cipla, GAIL, Gujarat Gas and more

Friday's top brokerage calls: Cipla, GAIL, Gujarat Gas and more
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By CNBCTV18.com Aug 6, 2021 9:28:50 AM IST (Published)

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SUMMARY

Among brokerages, Jefferies and Citi are bullish on Gujarat Gas. CLSA has maintained a 'buy' rating on GAIL. Here are the top brokerage calls for the day:

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Jefferies on Gujarat Gas: The brokerage has maintained a 'buy' call on the stock with a target price of Rs 920 apiece. The company's volumes were broadly in line with estimates, while a sharp beat on the margin front led to the EBITDA beat, according to Jefferies. Its volumes have recovered to levels seen in Q4, the brokerage added.

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Citi on Gujarat Gas: The brokerage has maintained a 'buy' call on the stock with a target price of Rs 820. The company posted a strong margin-led beat in Q1, but weakness is expected in Q2, according to Citi. The brokerage also said the company's margin is almost certain to come off sharply in Q2 given the spike in LNG prices.

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CLSA on Gujarat Gas: The brokerage has downgraded the stock to 'sell' from 'outperform', with a target price of Rs 690. Though the Q1 show was strong, the performance may be tough to repeat, according to CLSA.

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CLSA on GAIL: The brokerage has a 'buy' call on the stock with the target price reduced to Rs 180 from Rs 200. Despite tailwinds, the company trades at a core PE of 7.5 times even after the holding company discount of 20 percent, CLSA added.

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Citi on Cipla: The brokerage has retained a 'buy' call on the stock with a target price of Rs 1,140. The company posted a Covid-driven beat, and its core business margin is not bad as well, according to Citi.

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Macquarie on Cipla: The brokerage has an 'outperform' rating on the stock with a raised target price of Rs 1,150. The company posted a strong Q1 led by the Covid-19 contribution, and there was a recovery in its core branded business, according to Macquarie.

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CLSA on Cipla: The brokerage has a 'buy' call on the stock with the target price raised to Rs 1,150 from Rs 1,080. The company has a strong presence in the branded markets in India and South Africa, and has a high number of complex launches lined up for the US starting in FY23, according to CLSA.

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JPMorgan on Cipla: The brokerage has maintained a 'neutral' call on the stock with a target price of Rs 800. The company's EBITDA guidance of a 22-23 percent margin for FY22 seems tough, according to JPMorgan.

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