Wednesday's top brokerage calls: Colgate, Tata Steel, Maruti, and TVS
SUMMARY
CLSA maintains 'sell' on the shares of Colgate with a target price of Rs 1,490, while JPMorgan maintains an 'overweight' rating on the shares of Tata Steel with a target price of Rs 1,400. Here are the top brokerage calls for the day -
By CNBCTV18.com Jun 29, 2022 8:04:30 AM IST (Published)
CLSA on Colgate | CLSA maintains 'sell' on the shares of Colgate with a target price of Rs 1,490. The brokerage house says that the challenges are contracting market share and high revenue concentration in oral care category.
CLSA on Maruti | CLSA maintains a 'sell' on the shares of Maruti with a target price of Rs 7,053. It is tough to achieve 50 percent market share given competition in hatchback and MPV segments, CLSA says.
Jefferies on 2-wheelers | Jefferies name Eicher and TVS as preferred buys, followed by Bajaj Auto. Over FY22-24, see EPS rising 120 percent for Eicher/TVS and 60-70 percent for Bajaj/Hero Moto, says Jefferies.
JPMorgan on Tata Steel | JPMorgan maintains an 'overweight' rating on the shares of Tata Steel, with a target price of Rs 1,400. India volumes pick up as consumer de-stocking is behind company, says the brokerage house.
