Tuesday’s top brokerage calls: Sun Pharma, Bharat Petroleum Corp and more

SUMMARY

Brokerage calls: CLSA and Jefferies have maintained their 'buy' calls on UPL. JPMorgan has an 'overweight' rating on BPCL. Here's the complete list of brokerage views on the Union Budget day.

By CNBCTV18.comFeb 1, 2022 8:26:38 AM IST (Updated)

CLSA on UPL | The brokerage maintained a 'buy' call on UPL with a target price of Rs 1,100. The company's revenue beat estimates by 10 percent, EBITDA by 12 percent and profit by 14 percent, according to CLSA.

Jefferies on Sun Pharma | The brokerage continued with an 'underperform' call on Sun Pharma with a target price of Rs 745. The drug maker's quarterly performance was in line with estimates, with the EBITDA beating estimates by six percent and profit by 29 percent, according to Jefferies. The brokerage raised its FY23 and FY24 earnings per share estimates for Sun Pharma by 1-8 percent.

Citi on Sun Pharma | The brokerage retained its 'buy' rating on the stock with a target price of Rs 1,070. The drug maker's leading products have shown good momentum in Q3, according to Citi, which raised its FY22-FY24 earnings per share estimates for the company by 6-7 percent.

CLSA on Sun Pharma | The brokerage continued with a 'buy' rating on Sun Pharma and a target price of Rs 1,100. The drug maker's sustained momentum in the specialty business will drive its operating leverage and dictate its valuation, according to CLSA. The brokerage raised its FY22-FY23 earnings estimates for Sun Pharma by 1-5 percent to reflect the Q3 beat.

Jefferies on UPL | The brokerage retained a 'buy' call on the stock with a target price of Rs 1,005. Price hikes drove UPL's sales growth in Q3, according to Jefferies, which raised its FY23-FY25 earnings per share estimates for the company by 2-3 percent.

JPMorgan on BPCL | The brokerage maintained an 'overweight' rating on the stock with a target price of Rs 550. The oil marketing company reported a strong operating performance in the December quarter, though profit was a miss against consensus likely due to underestimated inventory losses, according to JPMorgan. The brokerage expects the divestment progress to pick up in FY23.