5 Stocks Where Global Brokerages Tweaked Ratings Post Q4 Earnings
timesinternet.in ETMarkets.com: Top global brokerage firms such as CLSA, Credit Suisse, Deutsche Bank and BofAML in a separate notes to their clients have tweaked their ratings as well as target prices for five stocks after their March quarter results announced this past week.
ETMarkets.com collated a list of five such stocks:
UltraTech Cements (Outperform; Target price: 3,750)
CLSA has downgraded UltraTech Cements post Q4 results, but has maintained its 12-month target price at 3,750. The beat was on the back of higher volumes and lower costs. CLSAhasreducedits12-monthtarget price to ₹ 800 from ₹ 850 earlier. The net profit was tad below estimate, and earnings growth was largely driven by 31% growth in AUM. Most of the net interest margin (NIM) surprise was explained by improved recoveries, said Credit Suisse. It says that the improvement in H2FY17 would depend on monsoons, infrastructure activity, and rural demand.
RIL (Buy; Target price
Deutsche Bank maintains a buy rating as strong refining margins drive highest-ever quarterly profit. The commercial launch of RJio over the next few months will be a key trigger.
HDFC Bank (Buy; Target price
Stronger loan growth and stable asset quality drive in-line Q4. But, going forward the stock is well-poised to gain significant share with good asset quality, said BofA-ML.