The benchmark indices are likely to open in red on Monday, following subdued Asian shares, amid growing uncertainty over US-China trade talks. Investors are keenly watching whether the United States and China will be able to reach a deal to end their trade war after Washington sharply hiked tariffs.

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Q4 earnings, macro data, and the ongoing Lok Sabha elections will also affect the market sentiment going ahead. The retail inflation data is scheduled to be released early this week. On Friday, Nifty failed to hold 11,300 as benchmark indices fell for the eighth consecutive session. The Sensex ended nearly 100 points lower, while Nifty closed at 11,278.

Among brokerage, Nomura and Jefferies remained bullish on SBI post earnings and raised the stocks' target price. Meanwhile, Credit Suisse had an 'outperform' rating for Tata Steel but cut its target price to Rs 570. Kotak was bearish on Eicher Motors and cut the stocks target price to Rs 16,200. CLSA downgraded Cadila to 'sell' from 'buy'.

Here are the top brokerage calls for today:

Nomura on SBI

- Maintain 'buy' rating, target raised to Rs 400 from Rs 375 per share

- Valuations reasonable at 0.8x for improving profitability

- The performance was solid with improving asset quality

- Balance sheet netted off by a small miss on NIMs

- Exposure to new stress names is low

- Expect credit costs to moderate to below 100 bps over FY19-21

- See clear visibility of 14 percent RoE by the bank

Jefferies on SBI

- 'Buy' rating, target raised to Rs 375 from Rs 365 per share

- Operationally weak quarter, but FY20 should be better

- Slippages were lower/in-line while PCR improved to 79 percent

- Don't see long-term RoA improving beyond 90 bps

- Valuations are below the historical average

- Increase FY20 EPS estimate by 30.7 percent

Credit Suisse on Tata Steel

- Maintain 'outperform', target cut to Rs 570 from Rs 628 per share

- ThyssenKrupp JV rejected as companies are unable to provide further remedies

- Apart from synergies, it would have helped Tata transfer Rs 20,000 crore of debt

- De-leveraging will be driven entirely by its India operations and asset sales

- Company will continue to look for strategic options

- Indian operations remain robust and deleveraging is on track

- Iron ore integration shields the company from rising prices

Kotak Institutional Equities on Eicher Motors

- 'Sell' rating, target cut to Rs 16,200 from 18,400 per share

- Volume outlook remains quite weak

- Significant cost increase and economic slowdown impacted Royal Enfield volume growth

- Expect volume pressure to persist over the next two years

- Q4 EBITDA margin deteriorates as volume pressure mounts

- Compliance cost headwind leading to margin pressures

- Cut FY20-21 EPS estimates by 9-14 percent led by 9-13 percent cut in volumes

- Cut FY20-21 margin estimate by 70-110 bps

CLSA on Cadila Healthcare

- Downgrade to 'sell' from 'buy', target cut to Rs 250 from Rs 430 per share

- Moraiya plant observations worrying

- Expect approval delays, cut FY20-21 EPS estimates by 19-24 percent

- Concerned about the potential product contamination issues

- Moraiya forms 45-50 percent of US sales and one-third of 100 plus ANDAs pending approval

10 things you need to know before the opening bell on May 13