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Top brokerage calls for December 23: Jefferies bullish on IndiaMART; Citi raises MindTree's TP

Updated : December 23, 2019 08:10 AM IST

Indian benchmark indices BSE Sensex and NSE’s Nifty50 are expected to open little changed on Monday tracking mixed trends in Asian peers amid US-China trade optimism. Among brokerages, Jefferies was bullish on IndiaMART, while Citi raised MindTree's target price. Here are the top brokerage calls for Monday

 Jefferies on IndiaMART : The brokerage maintained 'buy call on the stock with a target at Rs 2,500 per share. It expects a 20 percent revenue CAGR over FY20-22 despite macro headwinds. Margin should expand to 28 percent by FY22 from 16 percent in FY19, it added.
Jefferies on IndiaMART: The brokerage maintained 'buy call on the stock with a target at Rs 2,500 per share. It expects a 20 percent revenue CAGR over FY20-22 despite macro headwinds. Margin should expand to 28 percent by FY22 from 16 percent in FY19, it added.
 Citi on MindTree:  The brokerage had a 'neutral' call on the stock with target price raised to Rs 800 per share from Rs 765 earlier. The company continues to focus on improving FY20 revenue growth and margin, said the brokerage, adding that margin will likely improve sequentially.
Citi on MindTree: The brokerage had a 'neutral' call on the stock with target price raised to Rs 800 per share from Rs 765 earlier. The company continues to focus on improving FY20 revenue growth and margin, said the brokerage, adding that margin will likely improve sequentially.
 Goldman Sachs on M&M:  The brokerage maintained 'buy' rating on the stock with target at Rs 672 per share. As per the brokerage, focus on core business segments could drive additional value for the company.
Goldman Sachs on M&M: The brokerage maintained 'buy' rating on the stock with target at Rs 672 per share. As per the brokerage, focus on core business segments could drive additional value for the company.
 Credit Suisse on Sun Pharma:  The brokerage maintained a 'neutral' call on the stock with a target at Rs 450 per share. As per the brokerage, a warning letter is unlikely for the company's Halol facility but approvals are likely to be delayed by 3-6 months. It added that stock has a further overhang from potential fine in price-fixing litigation.
Credit Suisse on Sun Pharma: The brokerage maintained a 'neutral' call on the stock with a target at Rs 450 per share. As per the brokerage, a warning letter is unlikely for the company's Halol facility but approvals are likely to be delayed by 3-6 months. It added that stock has a further overhang from potential fine in price-fixing litigation.
 Jefferies on Sun Pharma:  The brokerage has a 'buy' rating on the stock with a target at Rs 520 per share. It added that the key for the company remains its specialty business, where the brokerage remains positive.
Jefferies on Sun Pharma: The brokerage has a 'buy' rating on the stock with a target at Rs 520 per share. It added that the key for the company remains its specialty business, where the brokerage remains positive.
Published : December 23, 2019 08:10 AM IST
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