Citi on Aurobindo Pharma
* Earlier turnaround in EU, better balance sheet metrics augurs well for co
* Maintains Buy, raises target to ₹1,170 from ₹1,050
* Management commentary pointed to continued improvement going forward
* Remains top pharma pick and we reiterate our re-rating thesis
* Scale & breadth of portfolio and cost advantage should help
Citi on Tata Communications
* Downgrades to Sell from Neutral, raises target to ₹435 from 400
* Valuation at 6.6x FY17E EV/EBITDA is rich
* Voice continues to see competitive pressure; uncertainty around Neotel
* Voice, Neotel & data center sale dampen data upside
* WC cycle too has deteriorated with change in biz mix
CLSA on Sun Pharma
* Guidance for FY17 is soft, underlines pricing pressure seen in the US
* Increased investment in R&D could keep near-term profitability under pressure
* Lower sales guidance and margin pressure drive 12/9% EPS cut
* Maintains Buy, cuts target to ₹1,020 from ₹1,060
* Medium to long-term earnings drivers are in place with produce filings
Goldman Sachs on Sun Pharma
* FY17 guidance for 8%-10% topline growth is below consensus
* Guidance incorporates gGleevec losing exclusivity in Aug 2016
* Lower 2017-19 EBITDA by 9-10% on lower topline guidance, margin commentary
* Maintains Buy, cuts target to ₹900 from ₹975
UBS on Asian Paints
* Building in estimated around 12% volume growth in H1 FY17
* Estimate more than 100 bps expansion in EBITDA margin in FY17
* Given inflationary trends in crude, we est price increases of ~5-6% in FY17
* Increasing our FY17E/FY18 revenue estimates by 4.8/6.2%
* Investments in extending availability could help it maintain its volume trend
* Maintains Buy, raises target to ₹1,175 from ₹1,000
Ridham Desai - Morgan Stanley
* Auto stocks occupy a lot of space on our focus list
* Global economic slowdown may weigh on Indian economy for the short term
* Growth in India is turning around, macro economic data indicates the same
* Markets may give positive returns in the next 2-3 years
* See a lot of buildup in infrastructure spend
* See consumption cycle in India revive going ahead
* Short term investment in markets may not deliver any substantial returns
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.
No comments:
Post a Comment