Brokerage Views: Federal Bank, Bharti Airtel, Tata Chemicals, insurance stocks are in focus today

Global brokerages have shared their views on Federal Bank, Bharti Airtel, Tata Chemicals and insurance companies, as the corporate earnings season picks up. Barring the insurance space, brokerages from the likes of Citi, Credit Suisse and JPMorgan are positive on most of the stocks. 

ICICI Bank’s insurance subsidiaries, ICICI Prudential Life, and ICICI Lombard General are due to report their earnings later in the day.

Here are some key stocks under the brokerages' radar:

Federal Bank 

Brokerages are bullish on Federal Bank after a strong set of earnings from the private sector lender. 

Morgan Stanley has maintained an 'overweight' rating with a revised target of Rs 175 apiece. 

Also Read: Federal Bank Q3 Results: Profit, NII jump to record highs as asset quality improves

CITI has retained a 'buy' and raised its target price to Rs 165 apiece.

According to Morgan Stanley, Federal Bank’s net interest income (NII) growth was a big surprise led by higher margins, and core Pre-Provision Operating Profit growth beat estimates.

The bank’s management raised the guidance for net interest margin (NIM) and return on assets (RoA) for FY24. Morgan Stanley raised its earnings per share (EPS) estimate for the stock by 5-12 per cent in for two years ending March 2024.

CITI believes rate hikes continued to support faster asset repricing for Federal Bank. 

Bharti Airtel 

Citi and Credit Suisse are bullish on the telecom major. Citi has maintained a 'buy' with a target of Rs 940 apiece. Credit Suisse has an 'outperform' call on the stock with a target of Rs 950 apiece.

Also Read: Bharti Airtel cracks over 4% after rating downgrade by global brokerage; should you buy? Anil Singhvi shares insight

Tata Chemicals 

Morgan Stanley has an 'overweight' call on Tata Chemicals with a target of Rs 1278 apiece. 

Also Watch: 'Bhasin Ke Haseen Shares': Why Sanjiv Bhasin Recommends To Invest In DLF Fut, BHEL Fut And Tata Chemicals Fut For Today? 

The brokerage expects market conditions to incrementally improve for the company and complement co-specific triggers to play out going forward.

JP Morgan on insurance companies 

Maintained 'overweight' on HDFC Life Insurance and raised target raised to Rs 720 from Rs 670

Maintained 'overweight' on SBI Life Insurance and raised target to Rs 1,630 from Rs 1,600

Maintained 'neutral' on ICICI Prudential Life Insurance and cut its target to Rs 510 from Rs 600

Maintained 'neutral on ICICI Lombard General Insurance and raised target to Rs 1,250 from Rs 1,200

Downgraded LIC to 'neutral' from 'overweight' and cut target cut to Rs 780 from Rs 840

Maintained 'underweight' on New India Assurance and raised target to Rs 100 from Rs 84

Maintained 'neutral' on GIC and raised target to Rs 170 from Rs 150