Brokerages initiate coverage on Fractal Analytics, Urban Company, Sagility, 8 other stocks with up to 40% upside. Do you own any?

A host of domestic and global brokerages have initiated coverage on select Indian stocks across sectors such as AI, defence, and home services. Analysts are bullish on major names such as Sagility and Solar Industries and forecast strong upside from current market levels. Here is a list of 11 stocks on which brokerages have initiated coverage.

Goldman Sachs has initiated coverage on Fractal Analytics with a Neutral rating and a target price of Rs 910. Morgan Stanley, on the other hand, has initiated coverage on Fractal Analytics with an Overweight rating and a target price of Rs 964. This implies an upside of 18%.

Domestic brokerage firm Elara Capital initiated coverage with a Buy call, citing that the company is ‘unleashing growth juggernauts’. With a target price of Rs 15,450, the brokerage implies an upside potential of 23% from the previous close. Analysts said one of the world’s largest commercial explosives companies is entering its next phase of growth across the defence, explosives and mining value chain.

International brokerage firm Nomura initiated coverage on the stock with a Buy call and a target price of Rs 55. The price implies an upside potential of 40% from current market levels. Nomura says Sagility stands to be a key beneficiary of the shift towards AI-led transformation in healthcare services.

Domestic brokerage firm JM Financial initiated coverage with a Buy rating on the counter and a target price of Rs 550. The target implies an upside potential of 25% from current market levels. The company is among the top five spirit players in India and now a formidable player in two of the largest sub-segments of IMFL, whisky and brandy, which account for 65% and 20% of the industry, respectively.

JM Financial initiated coverage on Balkrishna Industries Ltd with a Buy rating and a target price of Rs 2,540, indicating a potential upside of 15% from the current market price of Rs 2,171. The company is a leading Indian tyre manufacturer focused on the off-highway tyres segment.

Elara Capital initiated coverage with a Buy call and a target price of Rs 814 per share. The brokerage said that the company is entering a multifold monetisation phase. Its stabilised core business, payments and telematics (92% of revenue as on FY25), is set to compound through market share gains, industry tailwinds, operating leverage, and robust profitability.

Motilal Oswal has initiated coverage with a Neutral rating and a target price of Rs 125. The brokerage highlighted several concerns, including slower-than-expected growth in online penetration due to the relationship-driven and informal nature of home services. It also flagged elevated disintermediation, where customers and service professionals move off-platform after initial discovery.

Motilal Oswal initiated coverage with a Buy call and a target price of Rs 1,364, implying an upside of 34% from current levels. The company offers a structural play in the B2B global outbound travel market, enabling offline travel agents and enterprise buyers across geographies to access international airlines, hotels, and ancillaries.

Prabhudas Lilladher initiated coverage with an ‘Accumulate’ rating and a target price of Rs 120, based on 10x FY28E EPS. The company is positioning itself to benefit from the import substitution opportunity in India’s chemicals sector, supported by backward integration, product mix optimisation and ongoing capacity expansion.

Geojit initiated coverage with a target price of Rs 940, implying an upside of 26% from current levels. It is a technology-driven, engineering and design-led electronics manufacturing services (EMS) company with a diversified presence across consumer, automotive, industrial, healthcare, IT and railways. It is also expanding its defence and original design manufacturer (ODM) footprint through acquisitions.

Ambit initiated coverage with a Buy call and a target price of Rs 929 per share. The company is transitioning from a high-burn startup into a scalable, multi-platform manufacturer, with a clear focus on the 80% ‘convenience’ segment. Its 17% market share is supported by the launch of Rizta, along with a 31% reduction in bill of materials (BOM) costs, achieved through in-house engineering. This cost optimisation also helps cushion the impact of declining government subsidies.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)