Wednesday’s top brokerage calls: Tata Motors, ONGC, Titan, and more
Morgan Stanley on Bajaj Finance: The brokerage is ‘overweight’ on the stock with the target at Rs 6,000 per share. It said that the AUM growth for the financial services company is better than its estimates.Morgan Stanley on Indigo: The brokerage is ‘overweight’ on the stock with the target at Rs 2,292 per share. It said the company’s position has improved significantly since the start of the pandemic.Morgan Stanley on ONGC: The brokerage is ‘underweight’ on the stock with the target at Rs 126 per share. It said that the company lacks volume growth and is slowly monetising its reserves.Morgan Stanley on Tata Motors: The brokerage maintains ‘equal-weight’ on the stock with the target at Rs 300 per share. It said that the impact of chip shortage at Jaguar Land Rover is much more than it had anticipated.Nomura on Tata Motors: The brokerage is ‘neutral’ on the stock with the target at Rs 353 per share. It said that the impact of chip shortage is much higher than expected and FCF/EBIT is expected to remain negative in the first half of FY22.CLSA on Tata Steel: The brokerage is ‘overweight’ on the stock with the target at Rs 1,450 per share. It said that the company reiterated its focus on capacity expansion in India.Morgan Stanley on Titan: The brokerage is ‘equal-weight’ on the stock with the target at Rs 1,358 per share. It said that the jewellery sales are up 37 percent as compared to the first wave.CLSA on Titan: The brokerage maintains ‘sell’ rating on the stock with the target at Rs 1,370 per share.
