Wednesday's top brokerage calls: L&T and Kotak Bank

SUMMARY

Brokerages are largely bullish on L&T after the company's December quarter results met analysts' expectations while they are mixed on Kotak Bank after its earnings. Let's take a look at what brokerages have to say about L&T and Kotak Bank:

By CNBCTV18.comJan 27, 2021 9:02:21 AM IST (Published)

CLSA on L&T: The brokerage maintains a 'buy' call on the stock with a target at Rs 1,620 per share. It believes the company is on the cusp of the next capex cycle upturn and added that valuations are inexpensive at the current levels.

UBS on L&T: The brokerage has a 'buy' call on the stock with a target at Rs 1,575 per share. It believes that the market is not pricing in L&T's market share gains.

Credit Suisse on L&T: The brokerage maintains an 'outperform' rating on the stock with a target at Rs 1,700 per share. It added that results were largely in line with the expectations.

UBS on Kotak Bank: The brokerage maintains a 'sell 'call on the stock with a target at Rs 1,700 per share. It reduced the credit cost estimate to 1.4 percent from 1.5 percent earlier.

Morgan Stanley on Kotak Bank: The brokerage is 'equal weight' on the stock with a target at Rs 2,025 per share. It expects the lender's asset quality to normalise hereon and focus on loan growth to sustain.