Friday's top brokerage calls: Hindalco, Piramal Enterprises, Motherson Sumi and Colgate
SUMMARY
Brokerage radar: While Jefferies maintains 'hold' on Hindalco with a target of 440, CLSA maintains 'sell' on Colgate with a target of 1,490. Here are top brokerage calls for this morning -
By CNBCTV18.com May 27, 2022 8:18:16 AM IST (Published)
Jefferies on Hindalco | The brokerage firm expects EBITDA (earnings before interest, taxes, depreciation, and amortization) and EPS (earnings per share) to fall 6-13 percent year-on-year in FY23, after two strong years.
CLSA on Piramal Enterprises | CLSA maintains a 'buy' on Piramal's stock with an upgraded target price of 2,330. The brokerage firm has cut consolidated profit estimates by 12-14 percent for the conglomerate.
JPMorgan on Hindalco | The brokerage firm maintains 'overweight' with an upgraded target price of 565 and states that the underperformance is not justified given strong earnings and cash flows.
Jefferies on Motherson Sumi | Jefferies cut Motherson Sumi's FY23-24 EPS estimates by 6-9 percent. The brokerage also said that margin was down 350 bps year-on-year (YoY) due to multiple cost headwinds.
