Wednesday's top brokerage calls: Vodafone Idea, Petronet LNG and more

SUMMARY

Credit Suisse said Vodafone Idea beat estimates for Q4 while CLSA upgraded Petronet LNG to 'underperform' from 'sell'. Here are the top brokerage calls for today:

By CNBCTV18.comJul 1, 2020 9:32:30 AM IST (Published)

Credit Suisse on Vodafone Idea: CS believes that long-term viability continues to be under a cloud as the company may find it difficult to service AGR dues if repayment tenure is short.

CLSA on Petronet LNG: The brokerage upgraded the stock to 'underperform' from 'sell' with a target at Rs 270 per share. It also cut the FY21 EPS estimate by 9 percent.

CLSA on ONGC: The brokerage maintained a 'sell' call on the stock with a target a Rs 55 per share. Q4 was a big miss for the firm, it said, adding that impairment and large forex loss was partially offset by a tax write-back.

CLSA on Phoenix Mills: The brokerage has a 'buy' call on the stock with a target at Rs 742 per share. Phoenix Mills’ rent renegotiations reduce overhang, the brokerage said. It also lowered the mall rental estimates by 8 percent along with the target price.

CLSA on Financials: The brokerage expects overall loan growth and retail to moderate to 0-2 percent and 5 percent in FY21. For the top 4 private banks, expect loan growth to moderate to 4-8 percent in FY21, it added.

CLSA on Tata Steel: The brokerage maintained a 'sell' call on the stock with the target cut to Rs 285 per share from Rs 304 earlier. However, it expects Tata Steel’s net debt to remain constant YoY despite the lower capex.

Jefferies on Finolex Cables: The brokerage has a 'buy' call on the stock with target raised to Rs 380 per share from Rs 275. However, it cuts FY21/22 EPS estimates for Finolex Cables by 7 percent/2 percent.

Jefferies on Bharat Forge: The brokerage upgraded the stock to 'buy' and raised its target price to Rs 425 from Rs 190.