Among brokerages, UBS is bullish on IEX and raised its target price while Goldman Sachs and CLSA retain ‘buy’ calls on GAIL. Here are the top brokerage calls for today:
UBS on IEX: The brokerage maintains a ‘buy’ call on the stock with a target raised to Rs 430 per share from Rs 300 earlier. It expects renewable energy certificates trade to contribute 10 percent to FY22 EPS.
Goldman Sachs on GAIL: The brokerage maintains a ‘buy’ call on the stock with a target at Rs 180 per share. It expects sequential growth to continue with 20 percent EBITDA growth QoQ in Q4.
CLSA on GAIL: The brokerage has a ‘buy’ call on the stock with a target at Rs 170 per share. It added that positive leverage to crude prices is possibly being ignored.
Macquarie on Glenmark: The brokerage has an ‘outperform’ rating on the stock with a target at Rs 595 per share. A reduction in net debt in FY22 is likely to be superior to prior years, added the brokerage. Jefferies on Auto: The brokerage expects March volumes for autos to be up significantly YoY due to the low base. It sees wholesales to be up 11-23 percent MoM for M&M and Ashok Leyland.
Jefferies on AC companies: The brokerage raises FY22-23 EPS estimates by 2-7 percent for Voltas/Blue Star as channel checks suggest a sharp pick-up in AC sales in the last couple of weeks.
News Source: CNBC TV 18