Updated : May 07, 2021 08:55 AM IST
Among brokerages, Morgan Stanley, Citi and Jefferies raised price targets for Tata Steel after its March quarter results while Nomura is bullish on Tata Consumer after Q4 earnings. Here are the top brokerage calls for today:
Morgan Stanley on Tata Steel: The brokerage is ‘overweight’ on the stock and raised its target to Rs 1,630 per share from Rs 1,000 earlier. Structural repair of the balance sheet will improve Tata Steel’s resilience in any downcycle, it said. Citi on Tata Steel: The brokerage has a ‘buy’ call on the stock and raised the target to Rs 1,375 per share from Rs 1,200 earlier. It also increased the FY22-23 EBIDTA estimate for Tata Steel by 13 percent/12 percent. Jefferies on Tata Steel: The brokerage maintains a ‘buy’ call for the stock and hiked its target to Rs 1,500 per share from Rs 1,150 earlier. Tata Steel continues to trade at a reasonable valuation, Jefferies said and upgraded FY22/23 EBITDA & EPS estimates for the steel major. JPMorgan on Tata Steel: The brokerage is ‘overweight’ on the stock and raised the target to Rs 1,425 from Rs 1,250 earlier. It sets out a case for re-rating in Tata Steel’s stock – net debt in FY23 should be nearly half of FY21. Nomura on Tata Consumer: The brokerage maintains a ‘buy’ call on the stock with a target at Rs 750 per share. It expects the firm to drive superior volume growth and gain share from unorganised segment going ahead. Morgan Stanley on Tata Consumer: The brokerage is ‘underweight’ on the stock with a target at Rs 494 per share.
Published : May 07, 2021 08:55 AM IST