Jefferies to Citi: These 15 stocks are hot this November, check targets and CMPs

Jefferies, Citi, Goldman Sachs, JP Morgan, and UBS have released their top stock picks for November—spanning pharma, infrastructure, FMCG, banking, and real estate. Many of these stocks are backed by strong earnings visibility and improving margins, with analysts projecting double-digit growth through FY26 and FY27.

Among the key picks:

Cipla (Target: ₹1,800, Citi): With a strong outlook in non-US markets and India sales recovery, Citi expects margin expansion. The stock trades at ₹1,501.

ITC (Target: ₹535, Jefferies): Backed by 6% cigarette volume growth and 7% FMCG expansion, Jefferies sees room for upside from its current ₹419 level.

Swiggy (Target: ₹580, UBS): UBS notes strong Q2 results and a promising quick commerce expansion via Instamart. CMP: ₹409.

Navin Fluorine (Target: ₹6,635, Jefferies): Revised up from ₹6,025 after strong growth in EBITDA and PAT. CMP: ₹4,977.

Pidilite Industries (Target: ₹1,700, Goldman Sachs): Continued volume growth in adhesives and steady Q2 performance justify its bullish stance. CMP: ₹1,448.

DLF (Target: ₹1,000, Jefferies): Surpassing expectations in Mumbai and Delhi sales, with pre-sales of ₹43 billion. CMP: ₹757.

Macrotech (Lodha) (Target: ₹1,625, Jefferies): Strong 86% YoY profit jump and solid Q3 pipeline. CMP: ₹1,197.

L&T (Target: ₹4,500, Citi): With 54% YoY order inflow growth and a robust Middle East pipeline, L&T looks strong. CMP: ₹4,028.

Varun Beverages (Target: ₹615, Goldman Sachs): Strong recovery in India sales and Africa expansion via Carlsberg. CMP: ₹469.

Dr. Reddy’s (Target: ₹1,600, BofA): Anticipated Sema launch in Canada by early FY27. CMP: ₹1,198.

Go Digit Insurance (Target: ₹440, Jefferies): Improved PBT and underwriting ratios push Jefferies to raise the target from ₹410. CMP: ₹356.

Supreme Industries (Target: ₹5,100, Jefferies): 17% volume growth in pipe segment, with 15–16% FY26 guidance. CMP: ₹3,805.

Kotak Mahindra Bank (Target: ₹2,700, BofA): Q2 profit of ₹3,300 crore and 16% YoY loan growth suggest a turnaround. CMP: ₹2,105.

SBI Life (Target: ₹2,550, Citi): Rising VNB margins and strong segment growth support the raised target. CMP: ₹1,959.

Coforge (Target: ₹2,500, JP Morgan): Strong Q2 margins and cash flows, with an accelerating deal pipeline. CMP: ₹1,785.

Brokerages see these picks as well-positioned to benefit from India’s macro resilience, strong earnings outlook, and sector-specific tailwinds.