stocks: Sitting On Cash? Beaten down stocks you could buy to book big upsides

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stocks: Sitting On Cash? Beaten down stocks you could buy to book big upsides

The decline in some stocks rated highly by analysts at brokerages in the past three months may be an opportunity for investors holding cash to consider buying. At least 15 stocks, each tracked by no less than five brokerages, have dropped between 15% and 25% over the past three months.

After the drop, these stocks can potentially deliver 20% to 50% returns based on the average target prices set by analysts. For example, microfinance firm CreditAccess Grameen has declined 16% in the last three months.

According to 17 analysts tracking the stock, it could deliver a 49% return in one year. Similarly, Union Bank of India, which has fallen 17% in three months, has an upside potential of 40% over the next year, according to the average price target of nine analysts.

Agencies

Mahindra Lifespaces, down 16%, is projected to offer a 38% return in twelve months, and Equitas Small Finance Bank, which has declined 20%, also has a projected upside of 38%. Analysts are also bullish on stocks like Birla Corporation, Gateway Distriparks, RBL Bank, Prince Pipes, REC, and Power Finance Corporation.

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