Just Dial surged nearly 12 percent in trade on Thursday on the back of appointment of sales and marketing head for its B2B business. However, after weak Q4FY21 earnings, many brokerages have downgraded the stock and have sharply cut the FY22 and FY23 EPS estimates.Macquarie downgraded the stock to ‘underperform’ and cut the target price to Rs 566. They have cut FY22 and FY23 EPS estimates by 53 percent and 22 percent, respectively.Citi too has cut the target price on Just Dial to Rs 800 from Rs 944. They have lowered the FY22 and FY23 EPS estimate by 17 percent and 14 percent, respectively.Kotak Institutional Equities maintained a sell rating with a target price of Rs 585 on the stock. They believe that the value creation in the B2B business will take time.Meanwhile, UBS and Nomura have maintained a buy rating with a target price of Rs 860 and Rs 820 on the stock.Watch the video for more.