Infosys
CLSA says large deal loss puts FY17 guidance at risk after weak Q1. It may impact FY17 revenue by USD 50-100 million and FY18 revenue by USD 100-200 million.
Its sya RBS deal cancellation puts FY17 revenue guidance at risk by 0.5-1 percent. Morgan Stanley says downside risk to earnings at 4 percent if revenue and margin hit lower-end of guidance. It estimates impact on FY17 revenue outlook at 0.3 percent.
Sun Pharma
Credit Suisse maintains outperform call with target unchanged at Rs 880 per share. It says guidance of 8-10 percent sales growth is still conservative.
ICICI Securities upgrades it to add from hold rating with target increased to Rs 868 from Rs 776 per share.
SBI
Credit Suisse is underweight with target increased to Rs 155 from Rs 110 per share as it feels earnings per share (EPS) /return on equity will struggle in FY17 & FY18 given higher provisions.
Macquarie has underperform call on the stock with target at Rs 173 per share stating that slippages bring cheer; but fundamentals still un-enthusing. Bank of America Merrill Lynch raises target to Rs 300 per share and earnings estimates by 3-4 percent for FY17/18.
Jefferies has a buy call on the stock with target increased to Rs 295 from Rs 280 per share. CLSA upgrades it to buy from outperform with target increased to Rs 300 from Rs 220 per share.
Cipla
Nomura has a buy call with increased target to Rs 605 from Rs 549 per share. It says valuation are supported by higher earnings growth potential on low base.
Macquarie has a neutral rating with target at Rs 550 per share. Goldman Sachs retains sell rating but target is cut to Rs 440 from Rs 452 per share as it feels faster than expected respiratory approvals a key risk.
Bank of America Merrill Lynch is neutral on stock with target at Rs 550 per share. It adds FY17 is likely to be a muted year with pick-up likely only from Q4. Morgan Stanley is underweight on the stock with target at Rs 440.
CLSA upgrades it to outperform from underperform on favourable risk-reward, expecting FY17 to be year of consolidation. It sees strong growth in FY18-19. Target is increased to Rs 570 from Rs 515 per share.
Glenmark
Nomura has a buy call on the stock with target increased to Rs 1086 from Rs 1009.
Bank of America Merrill Lynch has set target at Rs 885and retain neutral rating. Morgan Stanley is overweight with target at Rs 1009.
Goldman Sachs is neutral on stock wit target cut to Rs 880 from Rs 890.
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