Wednesday’s top brokerage calls: HDFC Bank, Sun Pharma, Maruti Suzuki and more
Morgan Stanley on IndusInd Bank: The brokerage has an ‘overweight’ call on the stock with a target price of Rs 1,225. The lender is likely to see moderation in its slippages in the second half of FY22, assuming that there would be no new wave of the pandemic, according to Morgan Stanley. IndusInd’s pre-provision operating profit is expected to pick up as its loan growth improves, the brokerage adds.Goldman Sachs on Maruti Suzuki: The brokerage has a ‘buy’ call on the stock with a target price of Rs 9,036. The shortage of chips could cause sharper impact on the carmaker’s production in the near term, according to Goldman Sachs.CLSA on Britannia: The brokerage has maintained an ‘outperform’ rating on the stock with a target price of Rs 3,850. The company’s growth levers are falling in place, and its focus on market share is likely to pay off, according to CLSA.CLSA on Sun Pharma: The brokerage has maintained a ‘buy’ call on the stock with a target price of Rs 960. The drug maker’s specialty ramp-up is progressing well, with the profit contribution from the segment expected to rise sharply over the next 2-3 years, according to CLSA. The company’s annual report also reiterates its commitment to the segment, it adds.JPMorgan on HDFC Bank: The brokerage has retained an ‘overweight’ rating on the stock with a target price of Rs 1,800. The Reserve Bank of India has only partially lifted its digital ban on the lender, which is a partial positive as credit cards are one of its most profitable businesses, according to JPMorgan.
