Monday’s top brokerage calls: HDFC Bank, L&T Info and more

CLSA on HDFC Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,850 per share. It noted that the lender had manageable asset quality for the June quarter but weak trends. NII growth of below 10 percent was also weak, it said.

Morgan Stanley on HDFC Bank: The brokerage is ‘overweight’ on the stock with the target at Rs 2,000 per share. It stated that the June quarter EPS came in 1 percent below its estimates and it further reduced EPS estimates by 2 percent.

Goldman Sachs on HDFC Bank: The brokerage has a ‘buy’ call on the stock with the target at Rs 1,803 per share. It stated that higher than expected provisions led to PAT missing estimates in the June quarter.

CLSA on HDFC AMC: The brokerage has an ‘outperform’ call on the stock with the target at Rs 3,150 per share. It stated that the firm’s earnings buoyancy is much lower than other capital market players.

Morgan Stanley on L&T Info: The brokerage is ‘equal-weight’ on the stock with the target at Rs 4,250 per share. It noted that risk-reward is not as favourable for the stock as that of any other midcaps/largecaps.

Macquarie on L&T Info: The brokerage has an ‘outperform’ call on the stock with the target at Rs 4,700 per share. It said that the strong pipeline and new client hunting position the company well for FY22.

Goldman Sachs on L&T Info: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,587 per share. It stated that the valuation is expensive at current levels.

Citi on L&T Info: The brokerage has a ‘sell’ call on the stock with the target at Rs 3,870 per share. It said that the firm delivered an in-line quarter, adding that expectations and valuations are elevated.

Goldman Sachs on L&T Fin Holdings: The brokerage has a ‘buy’ call on the stock with the target at Rs 128 per share. It expects the company to diversify towards higher return generating retail business over the long term.