Friday's top brokerage calls: Zee, Havells and more

SUMMARY

Among brokerages, CLSA and UBS are bullish on Zee after its March quarter earnings while Goldman Sachs cut its target. CLSA has a 'sell' call on Havells and Citi and Jefferies are bullish on HPCL. Let's take a look at the top brokerage calls for today:

By CNBCTV18.comMay 21, 2021 9:11:43 AM IST (Published)

CLSA on Zee: The brokerage maintains a 'buy' call on the stock with a target at Rs 306 per share. The company's Q4 was ahead of estimates with ad revenue up 9 percent YoY, noted the brokerage. It added that risk-reward is attractive at current levels.

Goldman Sachs on Zee: The brokerage maintains a 'neutral' call on the stock and cut its target to Rs 208 per share from Rs 225 earlier. It forecasts a 5 percent FY20-25 revenue CAGR for the firm.

UBS on Zee: The brokerage has a 'buy' call on the stock with a target at Rs 250 per share. Healthy ad recovery by the firm, but the second COVID wave could negatively impact FY22, UBS said.

CLSA on Havells: The brokerage has a 'sell' call on the stock with a target at Rs 960 per share. Weak demand and margin pressure will affect Havells’ near-term performance, the brokerage stated.

Macquarie on Havells: The brokerage maintains an 'outperform' call on the stock with a target at Rs 1,276 per share. Havells’ balance sheet remains healthy, with net cash of Rs 1,400 crore versus Rs 1,000 crore in FY20, said the brokerage, adding that it is well-placed to deliver industry-leading growth.

UBS on Bosch: The brokerage maintains a 'buy' call on the stock with a target at Rs 19,600 per share. The firm's Q4 was in-line; margin will improve with localisation, UBS said. It added that the outlook is positive in the power-tool segment.

Citi on HPCL: The brokerage maintains a 'buy' call on the stock given attractive valuations with a target at Rs 295 per share. It added that HPCL showed exceptionally strong performance throughout the year.

Jefferies on HPCL: The brokerage maintains a 'buy' call on the stock with a target at Rs 370 per share. Significant EBITDA beat was on much higher inventory gains in refining and marketing for HPCL, said the brokerage.

JPMorgan on HPCL: The brokerage is 'overweight' on the stock with target raised to Rs 330 per share from Rs 285 earlier. It also increased FY22-23 EPS estimates for HPCL by 14 percent and 8 percent after Q4 earnings.