Jefferies picks 11 stocks that can deliver 15-25% CAGR return for 5 years (2024)

Global brokerage firm Jefferies has released a list of 11 stocks that it believes can deliver 15-25% CAGR over the next five years. Stocks with the highest upside include Macrotech, Axis Bank, Max Healthcare and Amber.

Here's the full list of 11 stocks that Jefferies has told clients to bet on for the next five years.

1) Amber Enterprises: Expected to benefit from India's manufacturing growth story.

Target price: Rs 9,740
Upside potential: 2.9x

2) Ambuja Cement: Strong demand expected from capex upcycle, driving 19% EBITDA CAGR.
Target price: Rs 1,250

Upside potential: 2.1x

3) Axis Bank: Expected to see 17% loan and 18% EPS CAGR over FY24-29.
Target price: Rs 2,810
Upside potential: 2.7x

4) Bharti Airtel: Anticipated strong EBITDA growth with moderating capex.
Target price: Rs 2,530
Upside potential: 2.1x

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5) JSW Energy: Planning a 3x increase in power capacity to 20GW by FY30, with renewable energy share rising to 80%.
Target price: Rs 1,100
Upside potential: 2.2x

6) L&T: Targeting more than 15% revenue CAGR over FY23-30.
Target price: Rs 7,564
Upside potential: 2.1x

7) Macrotech Developers: Expected to experience a strong housing cycle, driving 17.5% CAGR in pre-sales growth.
Target price: Rs 3,000
Upside potential: 3x

8) Max Healthcare: Doubling bed capacity to address under penetration in quality healthcare.
Target price: Rs 1,925
Upside potential: 2.7x

9) SBI: Forecasts 13% loan growth driven by retail, SME & corporate segments, alongside ROA expansion beyond 1%.
Target price: Rs 1,860
Upside potential: 2.5x

10) TVS Motor Company: Positioned as a key beneficiary of the revival in Indian two-wheeler demand and transition to electric vehicles.
Target price: Rs 5,000
Upside potential: 2.4x

11) Zomato: Low penetration levels in core segments provide a substantial growth runway.
Target price: Rs 400
Upside potential: 2.5x

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