ET looks at some of the stock recommendations by analysts of late. These companies are expected to return between 19 % and 37 % as per analysts’ price targets.
Sona BLW
BROKERAGE: JEFFERIES
Price Target: Rs 575
CMP: Rs 420.80 | Upside: 36.6%
- Order book of Rs 23,800 crore (9 times FY23 estimated revenues), which is yet to start execution and
- provides strong revenue visibility
- A key overhang of stake sale by Blackstone is behind it
- At 38 times FY24 estimated P/E, valuations appear rich but could sustain on a strong outlook
Page Industries
BROKERAGE: MORGAN STANLEY
Price Target: Rs 44,500
CMP: Rs 47,410 | Upside: 19%
- Stock offers a compelling opportunity for long-term investors
- Growth moderation in the last two quarters is a temporary blip and much shallower than in 2019
- The 25% P/E de-rating over the past six months is lower than the 45% P/E decline in 2018-19
Vedant Fashions
BROKERAGE: MORGAN STANLEY
Price Target: Rs 1,354
CMP: Rs 1,140 | Upside: 18.8%
- High business margins and a strong balance sheet are important moats
- New brands (Twamev, Manthan and Mohey) provide additional growth levers
- At 56 times estimated P/E, absolute valuations are high, but in line with discretionary peers; high valuations are because of given strong market share gain and revenue prospects
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