Asian Paints
Citi has a sell call on the stock with target cut to Rs 955 from Rs 985 per share as valuations price in medium-term positives & potential upside post-GST. Bank of America Merrill Lynch maintains buy rating with the target at Rs 1260 per share as domestic decorative paints margin up 5 percent. Nomura remains neutral with target unchanged at Rs 930 per share as Q3 results beat estimates at the revenue growth & EBITDA level. Morgan Stanley is overweight on the stock with the target at Rs 1280 per share as 3 percent volume growth in domestic decorative business a key positive. It says categories with high unorganized competition will benefit from an increase in market share. It expects 20 percent earnings CAGR over FY16-18, one of the highest in our coverage. JP Morgan is neutral on the stock with a target at Rs 920 per share and will watch out for management commentary on demand stabilization.
JSW Energy
Deutsche Bank has a holding call with target price at Rs 68 per share on no notification from seller/lenders on revocation of Bina acquisition deal. Citi has a buy call on the stock with target price at Rs 86 per share as management also indicated it is not seeking any fresh CAPEX/investment. Credit Suisse is neutral call on the stock with target price at Rs 60 per share. It has cut FY17/FY18/FY19 EPS by 18/51/46 percent. Nomura has reduced call on the stock with target price at Rs 60 per share as near-term outlook weak. It expects consensus earnings cut and sees near-term stock price performance to be weak.
LIC Housing
Morgan Stanley is equal-weight on the stock with a target at Rs 560 per share.
Tata Communication
Morgan Stanley is overweight on the stock with a target at Rs 690 per share as one-offs lead to EBITDA disappointment. It sees 5 percent downside risk to FY17 EBITDA.
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