SUMMARY
From MTAR Tech to Motilal Oswal, analysts have projected potential upside of up to 50% for these stocks going forward.
1 / 7There have been a slew of coverage initiations over the course of this week with analysts projecting stocks to rise anywhere between 25% to 50% over the course of the next 12 months. Let us take a look at these stocks which analysts are betting on:
2 / 7Anant Raj | Motilal Oswal initiated coverage on Anant Raj on Friday with a “buy” rating and a price target of ₹1,100, implying a potential upside of 31% from Thursday’s closing levels. The brokerage said that there are multiple growth levers in place for the company and that it anticipates long-term value creation for the stock despite execution risks. The stock has nearly tripled in value so far this year, with gains of 190% so far.
3 / 7Motilal Oswal | While Motilal Oswal initiated coverage on Anant Raj, it received a coverage initiation itself from Investec on Thursday. Investec initiated on Motilal Oswal with a “buy” rating and a price target of ₹1,200, which implied a potential upside of 26% from the previous day’s closing levels. The stock has also tripled in value so far in 2024, with gains of 199%.
4 / 7Swiggy | JPMorgan joined the lists of brokerages betting on food delivery aggregator Swiggy with an “overweight” rating and a price target of ₹730 per share, implying a potential upside of 27% from the previous day’s close. The brokerage said that Swiggy’s valuation discount to Zomato is “overtly pessimistic” and that Swiggy will emerge as an “underappreciated winner” in the local services ecosystem. This is the highest price target on the street for Swiggy. The recent listing is up 50% from its IPO price of ₹390.
5 / 7MTAR Tech | The stock has been an outperformer over the last two trading sessions, having corrected over 30% from its peak. Motilal Oswal maintained its “buy” rating on the stock with a price target of ₹2,100, implying a potential upside of 31% from the previous day’s close. The stock has also announced multiple order wins worth ₹226 crore, which further boosted the stock price on Friday. The stock has been an underperformer so far this year with losses of 20%.
6 / 7Piramal Pharma | Earlier in the week, JM Financial initiated coverage on Piramal Pharma with a “buy” rating and a price target of ₹340, which implied a potential upside of 36% from the previous day’s close. It said that at the current valuation multiple, Piramal Pharma is trading at an average discount of 38% to its listed peers. The stock has nearly doubled in value so far in 2024 with gains of 90%.
7 / 7Quess Corp | Lastly, Antique Stock Broking initiated coverage on Quess Corp with a “buy” rating and a price target of ₹1,000, implying a potential upside of up to 50% from the previous day’s close. Antique anticipates Quess Corp’s revenue to grow at a Compounded Annual Growth Rate (CAGR) between 12% to 14% over financial year 2024 – 2027. It also highlighted Quess as a strong beneficiary of hiring trends across various segments. The stock is up 38% so far in 2024.
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