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Tuesday's top brokerage calls: ACC and HDFC Life

Tuesday's top brokerage calls: ACC and HDFC Life
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By CNBCTV18.com Oct 20, 2020 9:07:59 AM IST (Published)

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SUMMARY

Among brokerages, CLSA and Citi maintained a 'buy' call on ACC post its September quarter results and raised target prices. Meanwhile, Credit Suisse and Nomura maintained a 'neutral' call on HDFC Life post Q2 earnings. Here are the top brokerage calls for today:

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CLSA on ACC: The brokerage maintains a 'buy' call on the stock and has raised its target to Rs 1,920 per share from Rs 1,730 earlier. It added that ACC’s better cost control for the third consecutive quarter implies that the benefits of steps taken may be sustainable & may drive efficiencies.

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Citi on ACC: The brokerage maintains a 'buy' call on the stock with the target raised to Rs 2,075 per share from Rs 1,950 earlier. The company is Citi's top pick in the cement space with UltraTech Cement.

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Jefferies on ACC: The brokerage maintains a 'buy' call on the stock and has raised the target to Rs 2,200 from Rs 1,900 earlier. Cost efficiency remains a theme for ACC, the brokerage believes this makes the cement major an exciting story.

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Credit Suisse on HDFC Life: The brokerage maintains a 'neutral' rating on the stock with a target at Rs 530 per share. HDFC Life's growth, profitability remain ahead of peers owing to its product mix, it added.

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CLSA on HDFC Life: The brokerage maintains an 'outperform' rating on the stock with a target at Rs 675 per share. It added that over the past 3 months the stock's valuation has declined and risk-reward has improved.

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Nomura on HDFC Life: The brokerage upgraded the stock to 'neutral' with a target at Rs 600 per share.

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Jefferies on HDFC Life: The brokerage maintains a 'buy' call on the stock and has raised the target to Rs 760 per share from Rs 730 earlier.

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