JP Morgan has an 'overweight' rating on shares of L&T while Jefferies has downgraded its rating on shares of Tata Steel and JSW Steel. Here are today's top brokerage calls:
JP Morgan on Larsen & Toubro | The brokerage house said that the order inflow trend lends hope that the company might stick to its guidance. JP Morgan sees medium-term catalysts underpinned by the government capital expenditure and international order pick up.
Jefferies on Metals | The brokerage house has downgraded its rating on Tata Steel stock to 'hold' and also cut its rating on shares of JSW Steel to 'underperform'. However, Jefferies has retained its 'buy' rating on Hindalco shares. Weak macro and demand concerns in China are weighing on metal prices, said the foreign brokerage house.
Morgan Stanley on PB Fintech | The brokerage house sees upside risk to its Q3 revenue forecasts for PB Fintech. Morgan Stanley has maintained its 'equal-weight' rating on shares of PB Fintech with a target price of Rs 1,160.
Morgan Stanley on DLF | Channel checks suggest that the customer response has been good, Morgan Stanley said. The brokerage house has an estimated Rs 4,200-4,500 crore revenue from the West Delhi project.