Wednesday's top brokerage calls: IndiGo, Motherson Sumi and more

SUMMARY

Among brokerages, Credit Suisse continues to be bullish on IndiGo post its Q4 earnings, whereas CLSA cuts target for Motherson Sumi while maintaining an 'outperform' rating. Here are the top brokerage calls for the day:

By CNBCTV18.comJun 3, 2020 8:54:42 AM IST (Updated)

Credit Suisse on IndiGo: The brokerage maintains 'outperform' call on the stock with target cut to Rs 1,300 per share from Rs 1,500 earlier. It retains a bullish stance on likely resumption on profitability by FY22.

CLSA on Motherson Sumi: The brokerage maintains 'outperform' rating on the stock with target cut to Rs 110 per share from Rs 125 earlier. It added that margin improvement in the global business leads to earnings beating forecasts.

Jefferies on Motherson Sumi: The brokerage maintains a 'hold' call on the stock but raised the target to Rs 105 per share from Rs 75 earlier. The company expects a tougher Q2 due to production shutdowns globally, the brokerage added.

Morgan Stanley on Motherson Sumi: The brokerage is 'overweight' on the stock with a target at Rs 103 per share. Strong earnings will be led by BS-VI transition, electrification, and plant ramp-up, MS said.

Credit Suisse on Britannia: The brokerage has a 'neutral' call on the stock with a target at Rs 2,900 per share. The Company estimates COVID-19 impact to be around 7-10 percent on revenue, added the brokerage.