Thursday's top brokerage calls: Emami, HUL and more

SUMMARY

Among brokerages, Citi downgraded Emami to 'neutral' from 'buy' but raised its target price while CLSA reiterated 'buy' calls on city gas companies - IGL, MLG, and Gujarat Gas. CLSA remains bullish on Hindalco and HUL. Here are the top brokerage calls for the day:

By CNBCTV18.comSept 24, 2020 8:56:37 AM IST (Published)

Citi on Emami: The brokerage downgraded the stock to 'neutral' from 'buy' but raised the target to Rs 395 per share from Rs 235 earlier. It added that valuations of the stock have doubled and risk-reward balance is now less favourable.

CLSA on HUL: The brokerage has an 'outperform' rating on the stock with a target at Rs 2,525 per share. Heightened hygiene awareness to drive per-capita consumption, it added.

CLSA on Hindalco: The brokerage maintains a 'buy' call on the stock but cut target to Rs 225 from Rs 230 earlier. Attractive product mix, strong scrap spreads will drive Novelis’ earnings, added CLSA.

Jefferies on Health Insurance: The brokerage sees the health insurance market doubling in 5 years, being the growth driver for ICICI Lombard. It maintains 'buy' on the stock with a target at Rs 1,570 per share.

CLSA on City Gas Companies: The brokerage is expecting more regulations to allow open access to city gas markets. It sees competition risk as manageable and reiterates 'buy' on IGL, MGL and Gujarat Gas.

Citi on Cholamandalam Investment: The brokerage initiated a 'buy' call on the stock with a target at Rs 300 per share. It expects RoE compounding and re-rating over two years to drive strong returns for the firm.