Hot Stocks: 3 stocks that can offer 28-40% returns

ET looks at some of the stock recommendations by analysts of late. These stocks are expected to return between 28% and 40% as per analysts’ price targets.

Reliance Industries

• BROKERAGE: CLSA Price
• Target: Rs 2,970 CMP: Rs 2,270.05
• Upside: 30.8%

Stock at only 5% above conservative valuation after recent fall; bargain buy Assumes no value for new energy biz; same equity valuation for Jio/retail at which PEs invested in 2020 Ramp-up of FMCG business, the launch of Airfi ber and new affordable 5G smartphone triggers in FY24.

Phoenix Mills
Opened 11th mall in Ahmedabad in Feb; On track to open Pune and Bengaluru malls in Q1FY24 Healthy pre-leasing of upcoming malls provides strong near-term visibility on rental growth Strong consumption momentum across malls; bettering pre-Covid consumption run-rate by 10-40%.

Sula Vineyards

• BROKERAGE: CLSA
• Price Target: Rs 475 CMP: Rs 340.85
• Upside: 39.3%

Well placed to benefit from the consumer shift to low-alcohol beverages — beer and wine. Expected to see highest revenue & EP) compounded growth over FY22-25 vs alcohol companies. Change in wine incentive schemes poses a key regulatory risk for the company.