Monday's top brokerage calls: Mindtree, ICICI Lombard and more

SUMMARY

Among brokerages, Morgan Stanley is bullish on Mindtree after the March quarter earnings while Macquarie is 'neutral' on the stock. Meanwhile, CLSA remains positive on ICICI Lombard but has cut its target price. MS and Credit Suisse are 'overweight' on HDFC Bank after its earnings. Here are the top brokerage calls for today:

By CNBCTV18.comApr 19, 2021 9:09:15 AM IST (Published)

Morgan Stanley on Mindtree: The brokerage is 'overweight' on the stock with a target at Rs 2,300 per share. Management aims for double-digit revenue growth with over 20 percent margin in FY22, MS said.

Macquarie on Mindtree: The brokerage is 'neutral' on the stock with a target at Rs 2,000 per share. It expects strong order book growth and a strong pipeline to help the company post double-digit growth in FY22.

CLSA on ICICI Lombard: The brokerage maintains an 'outperform' call on the stock but cut the target to Rs 1,575 per share from Rs 1,700 earlier. It sees headwinds in the form of continued elevated health claims.

JPMorgan on ICICI Lombard: The brokerage is 'neutral' on the stock with a target at Rs 1,480 per share. It cut FY22/23 profit estimate by 7 percent/3 percent. It stays neutral due to the lack of catalysts and interest premium.

JPMorgan on Glenmark: The brokerage is 'neutral' on the stock with a target at Rs 530 per share.

Morgan Stanley on SBI Cards: The brokerage maintains an 'overweight' stance on SBI Cards despite the company seeing a moderation in market share for both credit cards in force and credit card spends in February. It has a target of Rs 1,300 for the stock.

Morgan Stanley on HDFC Bank:The brokerage is 'overweight' on the stock with a target at Rs 2,000 per share. It expects sustained market share gains and a further rise in profitability as the cycle turns for HDFC Bank.

Credit Suisse on HDFC Bank:The brokerage maintains an 'outperform' call on the stock with a target at Rs 1,700 per share. It raised FY22/23 earnings by 4 percent/1 percent on slightly lower credit costs. Growth and profitability remain ahead of peers, added CS.