Top brokerage calls for September 17: Morgan Stanley upgrades Titan; CLSA raises target price for Bharti Airtel

SUMMARY

The BSE Sensex and NSE’s Nifty50 are set for a muted start on Tuesday as rising crude oil prices raised fresh concerns about inflation and trade deficit. Flat trades in global markets may also weigh on the local equities. Among brokerages, Morgan Stanley upgraded Titan to 'overweight and CLSA raised the price target for Bharti Airtel. Here are the top brokerage calls for Tuesday:

By CNBC-TV18Sept 17, 2019 7:43:02 AM IST (Published)

Morgan Stanley on Titan: The brokerage upgraded the stock to 'overweight' from 'equal weight' and raised its target to Rs 1,300 from Rs 1,100 earlier. Strong growth in a Difficult macro environment should be rewarded by re-rating, it said. The brokerage raised the company's FY20, FY21 and FY22 EPS estimates by 3 percent, 2 percent, and 1 percent, respectively.

CLSA on Bharti Airtel: The brokerage retained a 'buy' call on the stock and raised the target price to Rs 415 from Rs 390 earlier. The company's focus is on upgrading voice users to 4G bundled plans, the brokerage said. It added that the company sees limited disruption in home broadband at JioFiber’s current pricing.

Nomura on ICICI Prudential: The brokerage gave a 'buy' call on the stock with a target at Rs 510 per share. The brokerage added that savings business continues to remain in contraction mode, however, it has surprised positively on the protection side.

Morgan Stanley on Godrej Consumer: The brokerage was overweight on the stock with a target at Rs 860 per share. According to the brokerage, its share price will rise relative to the index over the next 30 days. The company may report acceleration in domestic volume growth, Morgan Stanley added.

Credit Suisse on Cement: The brokerage gave a 'neutral' rating on ACC and Ambuja and 'underperform' call on UltraTech Cement. The brokerage was cautious on the sector based on the potential for weakness in the demand scenario. Price discipline may be tough to sustain if demand stays weak, it added.

CLSA on Pharma: The brokerage said Glenmark, Dr Reddy's and Lupin are well placed to outperform the industry growth. Domestic market growth for August was healthy and rose 13.7 percent YoY and the brokerage expects 10-12 percent growth for the domestic market in FY20.