Tuesday's top brokerage calls: Sobha, Bharat Forge and more

SUMMARY

Among brokerages, Jefferies is bullish on Sobha while Morgan Stanley remains 'underweight' on Bharat Forge. Here are the top brokerage calls for today:

By CNBCTV18.comJun 30, 2020 8:47:58 AM IST (Published)

Jefferies on Sobha: The brokerage maintained a 'buy' on the stock with a target at Rs 306 per share. It further noted that the residential business has picked up in June with inquiries at pre-COVID levels.

Morgan Stanley on Sobha: The brokerage maintained an 'overweight' call on the stock with a target at Rs 361. The company targets to match FY20 pre-sales, if June trends hold, MS further said.

Morgan Stanley on Bharat Forge: The brokerage remained 'underweight' on the stock with a target at Rs 283 per share. It added that multiples at 21x FY22e look stretched.

Jefferies on BEL: The brokerage maintained a 'buy' call on the stock with a target at Rs 90 per share. Avionics package, smart city biz, warfare systems will be major orders in pipeline for FY21, it added.

Morgan Stanley on Tata Steel: The brokerage maintained an 'overweight' call on the stock with a target at Rs 405 per share. As per MS, the company's operations are normalizing with improved utilization rates.

Credit Suisse on Tata Steel: The brokerage maintained 'outperform' call on the stock with a target at Rs 365.