stock recommendations: Hot Stocks: 3 stocks which can give returns between 29-40%

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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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