Wednesday's top brokerage calls: Sun Pharma, DLF, Bharat Forge and Varun Beverages

SUMMARY

Citi said Sun Pharma valuations look reasonable while CLSA downgraded its rating on shares of Bharat Forge. Here are the top brokerage calls for the day:

By CNBCTV18.comJan 12, 2022 8:41:26 AM IST (Published)

JP Morgan on DLF | DLF could see twin engines firing in 2022, said JP Morgan. The company may beat its full-year pre-sales guidance of Rs 4,000 crore, the brokerage said. Earnings impact is likely to be limited in the near-term, JP Morgan added.

CLSA on Bharat Forge | Valuations of Bharat Forge are overly high and do not factor in a likely exports slowdown, CLSA said. The brokerage expects consensus earnings downgrades based on slowing export growth. CLSA has downgraded its rating on the stock to 'sell' from 'buy'.

Jefferies on Varun Beverages | Jefferies has maintained its 'buy' rating on shares of Varun Beverages and believes that return on equity will expand to 24 percent by CY23.

Citi on Sun Pharma | Sun Pharma valuations look reasonable, said Citi. The brokerage has maintained its 'buy' rating on shares of Sun Pharma with a target price of Rs 1,000.