Top brokerage calls for December 27: Citi raises target price for SBI, HDFC AMC, Kotak Bank

SUMMARY

The Indian market is likely to open in the green on Friday following gains in global peers on optimism over a US-China trade agreement. At 7:45 am, the SGX Nifty was trading 30 points higher at 12,223, indicating a positive start for the Sensex and Nifty50. Among brokerages, Citi is bullish on SBI and has raised target price for Kotak Bank. Here are the top brokerage calls for Friday:

By CNBC-TV18Dec 27, 2019 7:50:14 AM IST (Published)

Citi on SBI: The brokerage maintained a 'buy' rating on the stock and raised its target to Rs 400 per share from Rs 375 earlier. The brokerage raised target on higher target for SBI Life and higher multiple on core banking business.

Citi on HDFC AMC: The brokerage has a 'neutral' call on the stock and has raised its target to Rs 3,480 per share from Rs 3,200 earlier. The brokerage factored in higher growth in the equity segment.

Citi on Kotak Bank: The brokerage has a 'neutral' call on the stock but has raised its target to Rs 1,860 per share from Rs 1,750 earlier. The brokerage raised the target price on an increase in core bank earnings. It factors in higher valuations for life insurance and AMC subsidiaries.