Wednesday's top brokerage calls: Wipro, Sobha and more

SUMMARY

Among brokerages, Citi has downgraded Wipro to 'Neutral' while CLSA said that the company's growth recovered but bridging the gap versus peers could take time. Here are the top brokerage calls for today:

By CNBC-TV18Oct 14, 2020 9:22:44 AM IST (Published)

Citi on Wipro | Citi has downgraded Wipro to 'Neutral' with a target price of Rs 400.

Goldman Sachs on Wipro | The brokerage has reiterated a 'Sell' call on Wipro and set the target price at Rs 277 per share. It says the company is expected to continue to lose market share to its larger peers.

CLSA on Wipro | The brokerage said that the growth recovered but bridging the gap versus peers could take time.

Kotak Institutional Equities on Wipro | The brokerage noted that Wipro reported a good, yet in-line earnings for Q2.

JP Morgan on Wipro | JP Morgan has upgraded its revenue estimates by 2%/4%/5% for FY21/22/23 & margin estimates by 18/35/55 bps for FY21/22/23.

Jefferies on Sobha | Jefferies expects the company should achieve 6-7 MSF/year medium-term volume targets.

Jefferies on Equity Strategy | Jefferies said that its economic recovery tracker improved to 96 percent of the pre-COVID level. The recovery is noteworthy given the strictest lockdown and weak stimulus, it added.

CLSA on Metals & Mining | CLSA says better steel prices will drive up domestic steel margin and that volumes are likely to improve.