Brokerage calls today, June 17: Sun Pharma, Polycab, AU SFB, Navin Fluorine, Coforge, PB Fintech in focus

Several brokerage firms have reiterated their ratings and revised target prices for major Indian stocks on June 17, highlighting growth prospects, business outlook, and sector trends across pharmaceuticals, financials, technology, consumer goods, and specialty chemicals.

Sun Pharma: Macquarie Maintains Outperform

Macquarie maintained its Outperform rating on Sun Pharma with a target price of ₹2,150. The brokerage said Organon was a highly sought-after asset, noting that competing bids were close to Sun Pharma’s offer of $14 per share. According to Macquarie, multiple credible bidders participated in the process, including a European pharmaceutical company, a private equity investor, and a healthcare holding company. The brokerage continues to hold a constructive view on the Sun Pharma–Organon transaction and believes concerns regarding near-term revenue growth may be overstated.

Polycab: Jefferies Raises Target Price

Jefferies maintained a Buy rating on Polycab and increased its target price to ₹10,920 from ₹9,770. The brokerage cited continued market share gains, a strong order pipeline from RDSS and BharatNet projects, and diversified revenue streams. Jefferies noted that Polycab has delivered double-digit cables and wires sales growth over the last 15 quarters while maintaining EBIT margins of 12-15%. It expects earnings per share (EPS) to grow at a 22% CAGR between FY26 and FY29.

AU Small Finance Bank: Growth Outlook Remains Positive

Jefferies retained its Buy rating on AU Small Finance Bank with a target price of ₹1,250. The brokerage highlighted strong assets under management (AUM) growth prospects and steady deposit growth. While higher interest rates may limit net interest margin expansion, operating leverage is expected to support profitability. Jefferies also noted that the transition toward becoming a universal bank remains an important milestone.

Navin Fluorine: Jefferies Increases Target Price

Jefferies maintained a Buy rating on Navin Fluorine and raised its target price to ₹8,700 from ₹8,385. The brokerage highlighted the company’s long-term growth plans across its CDMO, specialty chemicals, cooling solutions, and semiconductor chemicals businesses. Jefferies projects a 22% EPS CAGR over FY26-FY29.

Crompton Consumer: Demand Recovery Visible

Citi maintained a Buy rating on Crompton Consumer with a target price of ₹400. The brokerage observed improving demand conditions supported by a strong summer season and a low base effect. Citi noted that the company has implemented four rounds of price hikes in fans totaling 9-10%, while revenue growth remains the primary near-term focus.

Godrej Consumer: Stable Demand Trends

Citi retained its Buy rating on Godrej Consumer with a target price of ₹1,300. The brokerage said demand trends remain stable despite commodity inflation and related price increases. Management continues to target high single-digit volume growth in FY27, with growth expected to be supported by its “Speedboats” portfolio and new product innovations.

Trent: Citi Maintains Sell Rating

Citi maintained a Sell rating on Trent with a target price of ₹2,733. The brokerage stated that demand remains resilient, although supply-side challenges such as raw material costs and labor availability persist. Citi noted that Zudio’s growth opportunity appears larger than previously anticipated, while Trent continues to explore new lifestyle categories.

Pine Labs: Strong Growth Guidance

Citi maintained a Buy rating on Pine Labs with a target price of ₹235. The brokerage highlighted the company’s guidance for 21-23% year-on-year growth driven by online payments, prepaid products, and affordability solutions. Citi expects operating leverage to improve and forecasts revenue growth alongside margin expansion through FY28.

Colgate-Palmolive India: Citi Retains Sell

Citi maintained a Sell rating on Colgate with a target price of ₹2,050. The brokerage said premiumization remains the company’s key long-term growth driver. However, pricing benefits may be moderated by competitive pressures, and margin trade-offs could continue despite healthy gross margins.

Coforge: Morgan Stanley Remains Constructive

Morgan Stanley maintained its Overweight rating on Coforge with a target price of ₹1,500. The brokerage highlighted the company’s ambition to reach $5 billion in revenue by FY30, including inorganic growth opportunities. Morgan Stanley expects Coforge to deliver one of the strongest revenue growth rates among its peers over FY26-FY28.

PB Fintech: Jefferies Sees Valuation Support

Jefferies maintained a Buy rating on PB Fintech with a target price of ₹1,950. The brokerage noted that the stock has corrected around 20% over the past six months amid concerns over commission regulations and founder-related developments. Jefferies believes current valuations already reflect a potential commission reduction scenario and sees limited impact on the company’s long-term business model.