BROKERAGE RADAR

Equirus Securities on Dr Lal PathLabs
Initiate Add with TP of Rs 1,100; Potential Upside 7%
Favorable industry tailwinds to be leveraged by extensive reach
New regional lab to help fetch more B2B biz in eastern region
Wellness package to offer further thrust on volumes
Low-margin hospital laboratory management to help aid volumes

Equirus Securities on Thyrocare Technologies
Initiate Long with TP of Rs 714; Potential Upside 14%
Preventive care to see solid growth aided by extensive network
Cost leadership and low-cost model to aid margins
See favorable dynamics for Wellness segment
Nuclear Healthcare (NHL) laggard in long-term strategy

JPMorgan on LIC Housing Finance
Maintain Neutral with TP of Rs 520; Potential Downside 9%
Q1FY19 - Asset quality shows pressure in retail & wholesale book
Loan growth remains steady at +15%
Spreads show improvement QoQ; INDAS impact limited

Edelweiss on LIC Housing Finance
Maintain Buy with TP of Rs 787; Potential Upside 38%
Q1 net profit optically in line, operating metrics trends were below expectations
Individual loan growth modest; Developer book lends support
Asset quality under pressure; Recovery holds key

HSBC on Mahindra CIE
Maintain Buy; Hiked TP to Rs 300 from Rs 290; Potential Upside 16%
Growth momentum intact despite macro headwinds in Europe business
Revenue diversification and capital allocation at core of long-term growth strategy
Raise earnings expectation by 3-4% on strong reverb quarter and robust outlook

HSBC on Prestige Estates
Maintain Buy; Hike TP to Rs 350 from Rs 345; Potential Upside 44%
HDFC platform, office space deal with GIC and monetisation of hotel and malls to unlock value
Weak collections and unsold finished stock have weighed on the stock
Expect new launches in FY19 to be new catalyst

Morgan Stanley on Indian Steel
Steel industry raised flat products prices by Rs 200/ton and long products prices by Rs 1,500-2,000/ton
Price hike ahead of expectation helped by global prices and strong domestic demand
Q2FY19 margins likely to decline marginally QoQ, reflecting seasonality

Investec on Prism Jhonson
Maintain Hold with TP of Rs 121; Potential Upside 10%
Cement operations in a sweet spot
Incremental cost initiatives to enhance profitability further
Await sustainable operating metrics before biting the turnaround bullet
Like Mgmt.’s focus on deleveraging and TBK turnaround