As we enter the thick of earnings season, we have compiled a list of 5 stocks where global brokerages have turned bullish. Take a look now:
JEFFERIES ON AVENUE SUPERMART SHARE PRICE: The company's FY18 SSSG came in lower than estimates, yet the brokerage kept estimates largely unchanged. "Store expansion picked up in Q4FY18 to 14 stores. Current valuations of 43x FY20E EV/EBITDA capture a blue sky scenario," the brokerage said.
CITI ON EXIDE INDUSTRIES SHARE PRICE: Q4 results came in ahead of estimates with management alluding to healthy demand across sectors. Citi has a buy rating on the stock with a target price of Rs 305 per share.
CLSA ON ICICI BANK SHARE PRICE: CLSA says, "Stable asset quality can drive a rerating on the stock. For now we have a buy rating and target price of Rs 430 as management guided for a 15 per cent consolidated ROE from June 2020." ICICI is trading at significant discount to peers at 1.4p/bv.
DEUTSCHE BANK ON JSW STEEL SHARE PRICE: Major steel producers have taken $12-15/ tonne price hike in May 2018. With declining raw material prices, steel spreads have increased in last 3 months. JSW Steel is preferred pick in the sector.
NOMURA ON HEXAWARE SHARE PRICE: Nomura maintained Reduce rating on the stock with a target price of Rs 350 from Rs 310. Revenues in Q1 CY18 came in ahead of expectations, while EBIT Margins missed estimates. Hexaware is indicating strong a traction in Q2/Q3.