Tuesday's top brokerage calls: Bharti Infratel, USL and more

SUMMARY

Among brokerages, CLSA retained bullish views on Jagran Prakash and Bharti Infratel, while Credit Suisse downgraded USL to 'neutral'. Here are the top brokerage calls for the day:

By CNBCTV18.comJun 2, 2020 8:33:04 AM IST (Published)

CLSA on Jagran Prakashan: The brokerage retained 'buy' call on the stock but cut target price to Rs 50 per share from Rs 66 earlier. CLSA added that the Q4 earnings of the firm were hit by weak demand and COVID-19 disruptions.

CLSA on Bharti Infratel: The brokerage reiterated 'buy' call on the stock with target raised to Rs 265 per share from Rs 207 earlier. Infratel's merger with Indus Tower is likely to close in the coming months, said the brokerage.

Credit Suisse on USL: The brokerage downgraded the stock to 'neutral' with a target at Rs 615 per share. The company faces serious challenges in FY21 due to COVID-19, CS said.

Jefferies on V-Guard Industries: The brokerage has a 'buy' call on the stock with a target at Rs 240 per share as the balance sheet remains strong.

Morgan Stanley on OMCs: Retail fuel prices have remained unchanged for the past 2 weeks, said the brokerage, adding that marketing margins have turned negative. BPCL and HPCL are its top picks.

Nomura on Jubilant Life: The brokerage has a 'buy' rating with a target at Rs 734 per share. It expects the company to continue to generate free cash and reduce debt.