Monday's top brokerage calls: Bank of Baroda, Divi's Labs and more

SUMMARY

CLSA and JPMorgan are bullish on Bank of Baroda after its March quarter earnings while Morgan Stanley and Credit Suisse are 'neutral' on the stock. Jefferies and Goldman Sachs have 'buy' calls on pharma firm Divi's Labs after its results announcement. Let's take a look at the top brokerage calls for today:

By CNBCTV18.comMay 31, 2021 9:15:19 AM IST (Published)

Morgan Stanley on Bank of Baroda: The brokerage is 'equal-weight' on the stock with a target at Rs 100 per share. It noted that Q4 profit before tax was 137 percent above its estimates given higher non-interest income.

CLSA on Bank of Baroda: The brokerage has a 'buy' call on the stock with a target at Rs 100 per share. It expects the lender's RoE to inch to 10-11 percent by FY23.

JPMorgan on Bank of Baroda: The brokerage is 'overweight' on the stock with a target at Rs 110 per share. It expects slippages to continue to trend down in FY22 as well.

Credit Suisse on Bank of Baroda: The brokerage has a 'neutral' call on the stock with a target at Rs 75 per share. It raised FY22 EPS estimates by 8 percent on higher recoveries.

Jefferies on Divi's Labs: The brokerage has a 'buy' call on the stock with a target at Rs 4,732 per share. It noted that EBITDA was impacted by COVID incentive payments of Rs 34 crore.

Goldman Sachs on Divi's Labs: The brokerage has a 'buy' call on the stock with a target at Rs 4,530 per share. The March quarter earnings beat estimates, said the brokerage, adding that multiple drivers will support business in FY22.

JPMorgan on Phoenix Mills: The brokerage is 'overweight' on the stock with a target at Rs 920 per share. It expects the portfolio to bounce back by festival season assuming vaccination picks up pace.

Goldman Sachs on M&M: The brokerage has a 'buy' call on the stock with a target at Rs 993 per share. It said that valuations are attractive at current levels and it is the preferred pick in the PV/CV space.

Macquarie on City Union Bank: The brokerage has an 'outperform' call on the stock with a target at Rs 245 per share. Outlook for FY22 is better despite the second COVID wave, it added.