Brokerage Radar: CLSA is bullish on these 3 stocks
1/3
CLSA ON IGL
> Volumes and margins beat; raise EPS estimate and TP; reiterate BUY
> Potential April 2020 20 per cent domestic gas price cut after a recent 12 per cent cut is an added tailwind
> Raise FY20/21 EPS estimates 32/24 per cent and increase target price to Rs510
> IGL is the strongest volume growth story in the CGD space; retain BUY
> Potential April 2020 20 per cent domestic gas price cut after a recent 12 per cent cut is an added tailwind
> Raise FY20/21 EPS estimates 32/24 per cent and increase target price to Rs510
> IGL is the strongest volume growth story in the CGD space; retain BUY
2/3
CLSA ON SUN PHARMA
> Keeping the faith on specialty product portfolio ramp-up
> 2QFY20 adjusted PAT grew 7 per cent YoY, in line with our estimate
> Ilumya gaining traction; encouraging start to recent Cequa launch
> Retain our FY20-22 EPS estimates and our target price remains unchanged at Rs540
> 2QFY20 adjusted PAT grew 7 per cent YoY, in line with our estimate
> Ilumya gaining traction; encouraging start to recent Cequa launch
> Retain our FY20-22 EPS estimates and our target price remains unchanged at Rs540
3/3
CLSA ON UPL
> Challenging external environment but FY20 guidance retained
> Maintain a BUY with an unchanged target price of Rs720
> Revenue/Ebitda grew 9 per cent/11 per cent YoY on a like-for-like basis in 2QFY20
> Weak EU and US offset by strong India and Latin America
> FY20 guidance retained but challenges increase in external environment
> Maintain a BUY with an unchanged target price of Rs720
> Revenue/Ebitda grew 9 per cent/11 per cent YoY on a like-for-like basis in 2QFY20
> Weak EU and US offset by strong India and Latin America
> FY20 guidance retained but challenges increase in external environment