Monday’s top brokerage calls: Nomura, Jefferies, CLSA raise target price on Adani Ports

SUMMARY

Indian shares are set to open lower, tracking Asian markets as investors resorted to profit-booking. At 8:45 am, the SGX Nifty, traded 59.50 points, or 0.45 percent, lower at 13,267.50, indicating a negative start for the Sensex and Nifty50. Among brokerages, Nomura, Jefferies and CLSA have raised the target price on Adani Ports & SEZ. Here are the top brokerage calls for today:

By CNBC-TV18Dec 7, 2020 8:52:57 AM IST (Published)

Nomura on Adani Ports | Nomura believes that the Adani Port's KPCL acquisition will be significantly value-accretive. The brokerage has maintained a 'buy' call on the stock and raised the target price to Rs 530 per share.

Jefferies on Adani Ports | The brokerage has maintained a 'hold' stance on the stock and raised the target price to Rs 525 per share from Rs 475 earlier.

CLSA on Adani Ports | CLSA has maintained a 'buy' rating on the stock raised the target price to Rs 540 per share from Rs 425 per share as it believes that the strategic asset will see port EBITDA growth of 56 percent, post-M&A, over FY21-23CL and trades at a discount.