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Brokerages raise target in these stocks. Do you own any?

Adani Ports, UPL, DLF, ICICI Bank, Cadila Healthcare, HDFC are among 12 stocks whose target price was raised by brokerages.

 

Dabur India | Brokerage: Credit Suisse | Rating: Outperform | Target: Raised to Rs 590. The healthcare growth decline to be compensated by a recovery in foods and international business. The broking firm increased FY21-23 EPS estimates by 4-6 percent, reported CNBC-TV18.



Adani Ports | Brokerage: Jefferies | Rating: Buy | Target: Raised to Rs 475. The Q2 results were in line with expectations. The October 2020 volumes were up 21 percent YoY. The 10 percent upward revision to FY22e EPS reflects 5-6 percent higher FY21-22 volume assumption, CNBC-TV18 said.

SBI: Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 330 from Rs 310. The Q2 results were reassuring with NII/Core PPOP growth of 15% YoY. Collections at 97% were the strongest among the top banks. CLSA raised FY21/22/23 estimates to 64/17/12% and expects the bank to deliver 9.7/11.9% ROEs in FY22/23. The valuations look cheap and the brokerage expects a big rerating, CNBC-TV18 reported.

HPCL | Brokerage: CLSA | Rating: Upgrade to buy from sell | Target: Raised to Rs 225 from Rs 180. The open market buyback of >18% of current free float is good news. The large inventory gain drove the Q2 profit. The open market buyback is an effective way to reward shareholders. A higher marketing exposure also puts it in good stead versus peers, CNBC-TV18 said.

HDFC | Brokerage: CLSA | Rating: Outperform | Target: Raised to Rs 2,300 from Rs 2,100. The NII & Core mortgage PPoP growth were driven by improving mortgage spreads. The 96.3% collection rate in individual mortgages was strong. On its builder book, some uncertainty remains. CLSA has conservatively factored in another Rs 2,500 crore provisions for H2, reported CNBC-TV18.

Cadila Healthcare | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 540 from Rs 525. R&D push expected to drive long-term growth. The strong US business and improving profitability in India should drive margin. CLSA increased FY21-23 EPS estimates by 3-8%, CNBC-TV18 said.

Laurus Lab | Brokerage: Citi | Rating: Sell | Target: Raised to Rs 280 from Rs 260. Research house Citi raised estimates for FY21/22/23 EPS by 15/22/21%. Estimates raised to reflect strong management guidance, reported CNBC-TV18.

ICICI Bank | Brokerage: CLSA | Rating: Buy | Target: Raised to Rs 560 from Rs 500. Company has delivered strong Q2 with a big core PPoP and expect a rerating. The company management expects normalised credit costs by FY22. It has increase FY21/22/23 profit estimates by 49%/19%/7% and expect its RoE to be back to 14-15% by FY23, reported CNBC-TV18.

 

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