20 Asia-Pacific stocks with up to 145% upside: Full ‘Going For Glory’ list, no Indian stock included

CLSA has picked 20 Asia-Pacific stocks for its “Going For Glory” list, but no Indian stock makes the cut, with the top pick offering a potential 145% upside from current levels. The basket spans technology, autos, healthcare, industrials and consumer companies, reflecting the brokerage’s highest-conviction bets across the region.

The selections come from CLSA’s broader universe of 91 Asia-Pacific stocks rated High Conviction Outperform (HC OPF). The “Going For Glory” list adds another filter, requiring analysts to have strong conviction that these stocks are worth substantially more than their current market valuations. The 20 picks have an average targeted upside of 85%, compared with 54% for the broader 91-stock HC OPF group.

WiseTech leads CLSA’s high-conviction list

At the top of the ranking is Australia’s WiseTech, with CLSA’s target implying about 145% upside. Analyst Nick Basile argues that investors may be overestimating the severity of the company’s problems and says a closer look at customer actions could point to a swift rebound over a 12-month horizon. His target represents the biggest upside among the 20 stocks.

HD Hyundai Heavy ranks next, with roughly 118% upside, followed by Japan’s Murata at about 113%. Samsung Electro-Mechanics (Semco) is around 106%, while Hyundai Mobis and CSPC Pharma are close to the 100% mark.

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CLSA’s chart on page 2 ranks the full 20-stock basket by target upside as follows:

The report’s individual stock pages provide the underlying investment cases. Semco, for example, is benefiting from expectations of stronger AI-server demand for MLCCs and ABF substrates. CLSA raised its target price to ₩2.9 million, implying about 106% upside.

Broad bet

The list also shows that CLSA’s highest-conviction ideas extend beyond artificial intelligence. Heavy engineering, automobiles, pharmaceuticals, infrastructure and gaming all feature alongside semiconductor and technology names.

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The selection is therefore less a single-sector trade than a collection of companies where analysts see a meaningful disconnect between current market valuations and prospective earnings or business momentum.

The report puts that valuation gap into perspective: CLSA’s Asia-Pacific coverage represents about $27.2 trillion in market capitalisation, while HC OPF stocks account for $5.7 trillion. The 20 “Going For Glory” stocks represent the subset where analysts see the strongest combination of conviction and potential rerating.

For investors looking beyond broad market benchmarks, the list offers a snapshot of where CLSA analysts see the largest potential upside — although the size of the targets also signals that these are high-conviction, higher-expectation calls rather than low-risk investments.