Friday's top brokerage calls: IT stocks, L&T and more

SUMMARY

Among brokerages, Jefferies has a 'buy' call on L&T and has initiated coverage on Trent with a 'hold' rating, meanwhile, CLSA raised the target prices for PVR and Prestige Estates. Here are the top brokerage calls for today:

By CNBCTV18.comOct 9, 2020 8:57:39 AM IST (Published)

CLSA on IT: The brokerage sees closure of mega deals for Indian IT companies in Q3FY21, says they have a positive read-through for the medium-term revenue growth outlook.

Jefferies on Indian Equities: As per the brokerage, India has reversed the sharp underperformance immediately after COVID and is now the best-performing emerging market over 1, 3 and 6 months.

Jefferies on L&T: The brokerage maintains a 'buy' call on the stock with a target at Rs 1,280 per share. In two years, L&T should have surplus cash flows to reward shareholders, it added.

Jefferies on Trent: The brokerage initiates coverage on the stock with a 'hold' rating and a target price of Rs 650 per share. It added that FY21 will be a washout year and sees an over 40 percent decline (YoY) in standalone revenue.

CLSA on Prestige Estates: The brokerage maintains 'buy' call on the stock and raised the target to Rs 315 per share from Rs 280 earlier. The company's rental stake sale is around the corner which will address investor concerns, it added.

CLSA on PVR: The brokerage maintained a 'buy' rating on the stock and raised the target to Rs 1,618 per share from Rs 1,600 earlier. It added that footfalls at PVR will increase as the company plans to reopen 58 percent of its screens by October 15.

CLSA on Pharma: The brokerage raises targets on its top picks in the pharma space - Sun Pharma, Cadila Health and Torrent Pharma.