Friday’s top brokerage calls: TCS, Tata Motors and more
Macquarie on TCS: The brokerage maintains an ‘outperform’ call on the stock with the target at Rs 3,640 per share. It added that the firm is well-positioned to benefit from a strong demand environment but has cut its FY22-23 EPS estimates by 1 percent.Goldman Sachs on TCS: The brokerage has a ‘buy’ call on the stock with the target at Rs 3,703 per share. It believes the company’s strong domain expertise will help maintain double-digit revenue growth over FY22-24.Citi on TCS: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,080 per share. it finds TCS’ valuation high for an FY20-23 CAGR estimate of 7 percent.JPMorgan on TCS: The brokerage is ‘overweight’ on the stock with the target at Rs 3,680 per share. It noted that deal wins remain strong for the IT major and said that its exposure to India is higher than its peers.UBS on TCS: The brokerage is ‘neutral’ on the stock with the target at Rs 3,345 per share. It said that broader market concerns could keep the stock defensive.Morgan Stanley on Tata Motors: The brokerage is ‘equal-weight’ on the stock with the target at Rs 298 per share. It cut FY22 earnings by 31 percent reflecting the greater-than-expected impact of chip shortages.ICICI Direct on Sugar Companies: The brokerage raised the target price of sugar firms including Balrampur Chini, Dalmia Bharat, Avadh Sugars, Triveni Engineering.
