Up to 42% upside! 9 stocks Jefferies, Motilal Oswal, others started coverage on. Do you own any?

A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as power, textiles and metals. Analysts remain bullish on names like Meesho and Vedanta Aluminium, projecting strong upside from current levels. Here are 9 stocks that recently saw fresh coverage.

CLSA initiated coverage on the stock with an Outperform rating and a target price of Rs 540, implying over 16% upside from the previous close. The brokerage highlighted support from a higher-for-longer aluminium cycle and strong operational tailwinds.

Citi started coverage with a Buy rating and a target price of Rs 210, indicating around 12% upside. It highlighted Meesho’s strong positioning in India’s e-commerce expansion beyond Tier-1 cities, its large long-tail seller network, zero-commission logistics model, and simplified advertising platform. The company now has over 264 million annual transacting users (up 33% YoY) and a seller base exceeding 950,000 (up 87% YoY).

Jefferies initiated coverage with a Hold rating and a target price of Rs 6,000, implying about 19% upside. It values the stock at 65x FY28 earnings and expects strong EPS growth of 35–36% CAGR over FY26–29E, though it sees stronger compounding in peers like Hitachi and Siemens.

Motilal Oswal assigned a Buy rating with a target price of Rs 1,110, implying 29% upside. The brokerage expects benefits from capacity expansion in India and improved Africa operations after AGOA renewal. It forecasts revenue, EBITDA and PAT CAGR of 18%, 33% and 73%, respectively.

Motilal Oswal initiated coverage with a Buy rating and a target price of Rs 670, implying 42% upside. It highlighted a strategic shift towards a garment-led model and expects growth support from advanced materials. It forecasts revenue, EBITDA and PAT CAGR of 15%, 23% and 29%.

Motilal Oswal values the stock at Rs 2,300, implying 11% upside, with a Buy call. Growth is expected to be driven by capacity expansion across India, Bangladesh, Vietnam and Indonesia, with revenue, EBITDA and PAT CAGR of 14%, 25% and 29%.

Motilal Oswal gave a Buy rating with a target price of Rs 550, implying 27% upside. The brokerage expects strong momentum in utility bedding and domestic bed linen segments, with revenue, EBITDA and PAT CAGR of 20%, 44% and 90%.

Motilal Oswal assigned a Buy rating with a target price of Rs 200, implying 18% upside. It expects mid-teen revenue growth driven by the home textiles segment, supported by lower tariffs and potential trade agreements with the UK and EU. It forecasts revenue, EBITDA and PAT CAGR of 14%, 43% and 97%.

Equirus initiated coverage with a target price of Rs 3,117, implying 29% upside. It highlighted strong growth potential in India’s luxury market, expected to expand from $10 billion in FY25 to $30 billion by FY30, driven by rising affluent households and wealth creation.

(Recommendations, suggestions, views and opinions expressed are those of the experts and do not represent the views of The Economic Times.)