Top brokerage calls for December 19: JPMorgan 'overweight' on Maruti; CLSA cuts target price for Havells India

SUMMARY

Indian shares are likely to open lower on Thursday amid uncertainty in the global markets after US House voted to impeach President Donald Trump. Among brokerages, JPMorgan reiterated 'overweight' rating on Maruti and raised its target price, while CLSA cut target price for havells India. Here are the top brokerage calls for Thursday:

By CNBC-TV18Dec 19, 2019 8:15:02 AM IST (Updated)

JPMorgan on Maruti Suzuki: The brokerage reiterates 'overweight' rating on the stock and raised its target to Rs 8,200 from Rs 7,900. According to the brokerage, volume print has bottomed out and levers for margin rebound are failing in place.

CLSA on Havells India: The brokerage maintains 'outperform' on the stock but cuts its target to Rs 730 per share from Rs 770 earlier. The brokerage expects a weak Q3FY20 for the company, It remains positive on the long-term prospects.

Credit Suisse on Dr Reddy's: The brokerage maintains 'outperform rating on the stock with a raised target of Rs 3,235 per share from Rs 3,055 earlier. The brokerage continues to like its growth story but adjust the model. NuvaRing is no longer expected to be EPS accretive, it added.

Morgan Stanley on Bank of Baroda: The brokerage maintains'equal-weight' on the stock with a target at Rs 100 per share. Remaining provisioning divergence at Rs 2,600 crore amounts to 2.7 percent of FY20 book value, said the brokerage.

Morgan Stanley on JSPL: The brokerage maintains 'overweight' call on the stock with a target at Rs 174 per share. According to the brokerage, the company will grow faster than the market and demand recovery to be gradual. It added that the net debt of the company to come down from Rs 8,800 crore to Rs 30,400 crore by FY21-end.