Thursday's top brokerage calls: Sun Pharma, Dabur and more

SUMMARY

Among brokerages, CLSA cut Sun Pharma's target price after its March quarter earnings numbers, however, Jefferies raised its target for the pharma firm. Meanwhile, Credit Suisse was bullish on Dabur, and UBS has a 'sell' call on USL. Here are the top brokerage calls for today:

By CNBCTV18.comMay 28, 2020 8:28:17 AM IST (Published)

CLSA on Sun Pharma: The brokerage maintained 'buy' call on the stock but cut its target to Rs 560 per share from 590 earlier. Sun Pharma's profits were hindered by lower gross margin, higher depreciation, and forex loss said the brokerage.

Credit Suisse on Sun Pharma: The brokerage had a 'neutral' call on the stock with the target at Rs 400 per share. It said that the firm's Q4 result was weak due to higher costs but the highlight of the fourth quarter was strong Ilumya sales.

Jefferies on Sun Pharma: The brokerage maintained 'buy' call on the stock and raised its target to Rs 530 per share from Rs 440 earlier. Jefferies said that Sun Pharma is its preferred large-cap pick over peers like Dr Reddy's.

Jefferies on Dabur: The brokerage maintained 'buy' call on the stock with the target cut to Rs 500 per share from Rs 552 earlier. According to Jefferies, the company faced severe challenges and missed Q4 forecasts comprehensively.

Credit Suisse on Dabur: The brokerage has an 'outperform' rating on the stock but cut its target to Rs 475 per share from Rs 500 earlier. It also cut earnings estimates for FY21/22 by 8 percent.

Credit Suisse on USL: The brokerage has an 'outperform' rating on the stock with a target at Rs 620 per share. It added that the first half of FY21 is likely to remain very weak.

UBS on USL: The brokerage has a 'sell' call on the stock with the target at Rs 480 per share. It added that tax increases on alcohol are likely to impact consumer sentiment.