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ET looks at some of the latest stock recommendations by analysts. These stocks are expected to return between 29% and 40% as per analysts’ price targets.
One 97 Communications
BROKERAGE: YES SECURITIES Price Target: Rs 505 CMP: Rs 389.4 Upside: 29.8%
- Upgrade stock to ‘buy’ for the fi rst time since its listing
- Market currently pricing in an acute scenario for the firm which will not transpire
- Client loss due to reputational damage and on-ground confusion will be contained
Manappuram Finance
BROKERAGE: MORGAN STANLEY Price Target: Rs 235 CMP: Rs 167.4 Upside: 40%
- See significant re-rating opportunity
- Diversification away from gold is in right direction for earnings growth
- Deregulation of loan pricing for the microfinance industry should help subsidiary Asirvad
Glenmark Pharma
BROKERAGE: DAM CAPITAL Price Target: Rs 1,257 CMP: Rs 939 Upside: 33.9%
- In second-half of FY24, the firm will use Glenmark Life stake sale proceeds to fix legacy issues
- Leveraged balance sheet, cash flow generation challenges, and limited returns on R&D spends drags on firm valuations
- Expect investor focus to now shift towards Glenmark’s business prospects
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