Indian indices are set to open lower, tracking losses in Asian peers, after US crude futures turned negative for the first time in history. Back home, investors are likely to keep an eye on the March-quarter earnings. Among brokerages, CLSA and Jefferies remain bullish on Infosys post Q4 earnings, while Morgan Stanley is cautious on cement stocks. Here are the top brokerage calls for today:
CLSA on Infosys: The brokerage maintains 'buy' call on the stock but cut target to Rs 800 per share from Rs 970 earlier. It added that strong deal wins and pipeline provide optimism for H2 growth and margin recovery.
Jefferies on Infosys: The brokerage maintains 'buy' call on the stock and raises target to Rs 705 per share from Rs 680 earlier. The company remains Jefferies’ preferred pick among top-tier IT companies. It says Infosys is a high-quality franchise and has reasonable valuation.
Morgan Stanley on UltraTech Cement: The brokerage maintains an 'equal-weight' rating on the stock with a target at Rs 3,425 per share. It believes the share price of UltraTech will fall over the next 60 days, says expect a sharp earnings decline in FY21.
Morgan Stanley on ACC: The brokerage maintains an 'underweight' rating on the stock with a target at Rs 930 per share. It believes the share price of co will fall over the next 60 days, says expect operating profit to decline by 40 percent in CY20.
Nomura on HCL Tech: The brokerage maintains 'buy' call on the stock but cut its target to Rs 570 per share from Rs 700 earlier. It sees a weak FY21 but expects FY22 to witness recovery.
Nomura on Dr Reddy's: The brokerage maintains 'buy' on the stock and raised target price to Rs 4,426 per share. US generics to present near-term earnings support; diversification to assist sustainable growth.