Indian shares are likely to open on a flat note on Friday following the muted trend in Asian peers. Investors may remain on the sidelines ahead of exit polls on May 19. With results out on May 23, exit polls are seen as indicators to which party forms the government. On Thursday, benchmark indices advanced in the last hour of trade to close near the day's high led by gains in metal, IT and energy stocks. The Sensex ended 279 points higher at 37,393, while Nifty was up 100 points to settle at 11,257.

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Among brokerages, Jefferies and Credit Suisse raised their target price for Bajaj Finance, however, Jefferies had a 'buy' rating, while Credit Suisse was 'underperform' on the stock. Deutsche Bank haf a 'hold' rating for Tata Motors. Credit Suisse remained 'underperform' on Bank of India post Q4 results and slashed its target price. Meanwhile, Morgan Stanley has an 'equal-weight' call on Hindalco. Here are top brokerage calls for Friday:

Jefferies on Bajaj Finance

- 'Buy' rating, target raised to Rs 3,600 from Rs 3,100 per share

- Q4 profit up 57 percent YoY versus our estimate due to stronger NIM

- Asset quality was stable; strong growth seen in new customers

- OPEX could ease further on operating leverage gains

- Lift FY20-21 EPS estimate by 8 percent

- Solid earnings growth and returns should support premium valuations

Credit Suisse on Bajaj Finance

- Maintain 'underperform', target raised to Rs 1,930 from Rs 1,660 per share

- A good set of results with consolidated loan growth of 41 percent YoY

- Leverage levels are still benign for most loan segments

- Growth in leverage levels faster in the top 8-10 cities

- Premium multiples may not sustain

- EPS goes up by 4-6 percent as we factor in Q4 results

Deutsche Bank on Tata Motors

- 'Hold' rating, target at Rs 170 per share

- The US may delay the imposition of auto tariffs

- It’s a short term relief for JLR

- Value company at Rs 132 per share and JLR at Rs 23 per share

- JLR china performance remains subdued

- JLR faces downside risks from potential geopolitical events

- Stability in China volumes could be a potential upside risk

Credit Suisse on Bank of India

- Stay 'underperform', target cut to Rs 72 from Rs 78 per share

- Q4 results ahead of estimates as credit costs moderated

- Overall loan growth saw some pick-up but remains muted

- NIM improved 40 bps QoQ, aided by recoveries and income tax refund

- Reported NPAs flat QoQ and coverage maintained at 68 percent

- Expect credit costs to remain high at 2 percent even in FY20

- Expect RoE to stay in single digits even in FY21

- Cut EPS estimate by 3-12 percent

Morgan Stanley on Hindalco

- 'Equal-weight' call, target at Rs 211 per share

- Aluminium segment EBITDA below estimate on higher costs

- The balance sheet has improved in FY19

- Expansion of projects are on track

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First Published:May 17, 2019 8:09 AM IST