Global brokerage Jefferies issues 'buy' rating for seven Indian stocks

Global brokerage firm Jefferies has assigned a ‘Buy’ rating to shares of seven Indian companies, which could create earning opportunities for investors. According to a report by Sandesh (Business) published on 9 November 2026, the target prices for these stocks are expected to rise by 9% to 51% compared to current market prices.

Jubilant Foodworks leads the list, with a potential upside of 51%. Jefferies has set a target of ₹650 for this stock, while its market price is ₹430.50. There is a possibility of an improvement of more than 200 basis points in the company's EBITDA margin in the medium term, and strong growth has been observed in Popeyes sales. The company aims to increase Popeyes' revenue to over ₹1,000 crore in the next 3 to 4 years.

For Voltas, a target of ₹1,445 has been set, representing a 33% jump against the market price of ₹1,084.10. Jefferies expects an average annual growth of 14% in the company's revenue and 24% in EBITDA between financial years 2027 and 2029, although earnings estimates have been lowered due to recent quarterly results.

Maintaining a ‘Buy’ rating on Tata Steel, a target price of ₹240 has been given. Based on the market price of ₹185.24, a 30% jump is possible. The brokerage hopes for margin improvement due to rising steel prices in India, but weak performance in Britain and regulatory challenges related to the closure of coke and gas plants in the Netherlands could pose risks.

For Bharti Hexacom, a target of ₹2,080 has been given, which is a 23% jump against the price of ₹1,678. The brokerage has described its rapid growth and valuation as attractive compared to Bharti Airtel. On the other hand, a target of ₹2,380 has been set for Bharti Airtel, which is a 16% jump according to the price of ₹2,052. A 10% increase in tariffs is expected in April, but revenue and EBITDA estimates have been reduced by 2% to 3% following the September quarter results.

For Divi's Laboratories, a target price of ₹12,550 has been given, which is a 9% jump compared to the price of ₹11,526.50. Jefferies has viewed the company's research and production capabilities for complex drugs positively. Additionally, a target of ₹2,030 has been given for another stock, showing a 20% jump against the price of ₹1,694.90. An average annual growth of 26% in its EPS is expected between financial years 2027 and 2029, although estimates for the coming years have been reduced due to integration and interest costs.

Jefferies' list includes stocks from various sectors such as metals, consumer durables, telecom, healthcare, and food services. These recommendations are based on the companies' results and growth plans.