These are Wednesday's biggest brokerage calls: HDFC Bank, ITC and more

SUMMARY

Indian shares are expected to open lower on Wednesday, tracking heavy selloffs in global markets after the US issued a warning to Americans to prepare for the possibility of a coronavirus pandemic. Among stocks, Macquarie maintained 'outperform' call on HDFC Bank, while Credit Suisse was 'neutral' on ITC. Here are the top brokerage calls for the day:

By CNBC-TV18Feb 26, 2020 8:04:08 AM IST (Published)

Macquarie on HDFC Bank: The brokerage maintained 'outperform' rating on the stock with a target price of Rs 1,499 per share. Macquarie said that the recent underperformance is on CEO transition issues.

Credit Suisse on ITC: The brokerage gave a 'neutral' rating on the stock with a target at Rs 225 per share. Cigarette price hikes indicated a push on premiumisation, said the brokerage, adding that macro weakness could be the stumbling block.

Jefferies on Tata Power: The brokerage downgraded the stock to 'hold' from 'buy' and cut target to Rs 55 per share from Rs 90 earlier.

Motilal Oswal on Gujarat Gas: The brokerage maintained a 'buy' call on the stock with a target at Rs 340 per share. Jump in LNG prices and open access remained the biggest risks to the rating, the brokerage added.

Jefferies on Graphite Electrode Companies: The brokerage retained 'buy' call on Graphite India and HEG with target of Rs 335 and Rs 1,420, respectively.