Here’s a look at some of the latest stock recommendations by analysts. These stocks are expected to return between 19% and 35% as per analysts’ price targets.
HDFC Life Insurance
BROKERAGE CITI Price Target: Rs 720 CMP: Rs 604 Upside: 19%
- Upgrade stock to buy after underperformance in six months and one year
- Expect HDFC Life’s efforts to strengthen its agency base in FY24 and focus on mass market growth to drive sales gradually
- Any likely revival in growth at HDFC Bank will aid further
LTI Mindtree
BROKERAGE MACQUARIE Price Target: Rs 6,250 CMP: Rs 4,633 Upside: 35%
- Retain Outperform rating but cut price target by 11% on lower growth expectations
- Company structurally sound but merger synergies (L&T Info+Mindtree) hit an unexpected rough patch
- See delayed margin recovery due to slower demand growth in FY24
Maruti Suzuki
BROKERAGE BERNSTEIN Price Target: Rs 14,400 CMP: Rs 12,503 Upside: 15.2%
- Sticking to companies with strong near-term momentum as Indian equities are above fair value
- Hyundai outpaced Maruti on earnings front in recent years due to premium and SUV positioning, but Maruti is catching up
- Maruti well positioned to tap EV opportunity and benefi t from a potential push towards hybrid
Brookfield India
REIT BROKERAGE HSBC Price Target: Rs 315 CMP: Rs 253 Upside: 24.5%
- Maintain Buy as an increase in physical occupancies and resolution of stuck inventory owing to the SEZ law would be a leading indicator of an uptick in leasing
- Once employees return to their offices, institutionally managed grade-A office spaces will remain a preference
- Estimated distribution yield of this REIT is 7.9%, a spread of 70 basis points over the 10-year G-Sec yield
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