Bank of Baroda among 7 stocks on which brokerages initiated coverage, see up to 95% upside

Motilal Oswal initiated coverage on Global Health with a 'Buy' rating. The brokerage firm set a target price of Rs 840 on the stock, which indicates an upside potential of nearly 17% from the current market prices."Given the healthy execution skill set, strong brand recall, and growth visibility in near future, we model a 10% premium to Medanta vs. the industry average of 21x. Thus, we assign 23x EV/EBITDA on a 12M forward basis to arrive at our TP of Rs 840," Motilal said.

Monarch Networth Capital initiated coverage on Rainbow Children's Medicare with a 'Buy' rating. The brokerage firm set a target price of Rs 1296 on the stock, which shows an upside potential of nearly 26% from the current market prices.

HSBC Global Research initiated coverage on IIFL Finance with a 'Buy' rating. The brokerage firm set a target price of Rs 790 on the stock, which shows an upside of 32% from the current market prices."We think IIFL’s potential rerating will be driven by strong retail AUM growth, potentially lower volatility in asset quality in the next cycle, and RoA expansion. We value IIFL at 2.3x FY25e consolidated BVPS using a Gordon growth model, translating into a TP of Rs 790," HSBC said.

Bonanza initiated coverage on Bank of Baroda with a 'Buy' rating. The brokerage firm set a target price of Rs 270 on the stock, which implies an upside potential of 26% from the current market prices."BOB is well placed among PSBs to deliver ROA above 1% on a sustainable basis. BOB is focusing on multiple levers right from NIM to fees to expand ROA. BOB’s balance sheet is strong with higher PCR (92% incl TWO) and strong capital among PSBs. We expect BOB to deliver NII / PPOP / PAT CAGR of 12% / 13% / 14% and the ROA / ROE to reach 1.1% / 16% respectively by FY25E," it said.

Bonanza initiated coverage on Kajaria Ceramics with a 'Buy' rating. The brokerage firm set a target price of Rs 1,803 on the stock, which implies an upside potential of 36% from the current market prices."Owing to huge CAPEX plans, expansion towards non-core businesses, export opportunities, and increasing distribution network, we are Initiating Coverage with a BUY rating," it said.

Antique initiated coverage on IRCON International with a 'Buy' rating. The brokerage firm set a target price of Rs 176 on the stock, which shows an upside potential of nearly 21% from the current market prices."We foresee a 10% CAGR in revenue/ net profit over the next three years. We assign 1x for investments in books. With 15x FY25E PE, we initiate coverage on IRCON with a Buy rating and a target price of INR 176. However, competitive intensity and linear infrastructure delays can cap the growth limit," it said.

Keynote initiated coverage on SIS with a 'Buy' rating. The brokerage firm set a target price of Rs 837 on the stock, which indicates an upside potential of 95% from the current market prices."We believe that the leadership position of the Company, supported with subtle and evident areas of strength, makes a major potential benefactor of the rising prospects in the industry for the following 3 years. Consequently, we initiate coverage on SIS Ltd. with a high-conviction BUY rating at 5-year median PE of 22x on FY26E EPS," it said.