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Stocks to Buy: JPMorgan bets on two large port operators for up to 35% upsideDespite strong stock price outperformance over the past three years, with Adani Ports and JSW Infrastructure rising 70% and 68%, respectively, compared with the Nifty 50, JPMorgan believes the sector's long-term strengths are still not fully appreciated.By Meghna Sen  March 5, 2026, 8:14:25 AM IST (Updated)2 Min ReadShares of Adani Ports and Special Economic Zone Ltd. and JSW Infrastructure Ltd. will be in focus on Thursday, March 5, after brokerage firm JPMorgan initiated coverage on both stocks.

JPMorgan has initiated coverage on Adani Ports with an 'Overweight' rating and a price target of ₹1,944 per share. The target implies a potential upside of 35% from Wednesday's closing level.

The brokerage has also initiated coverage on JSW Infrastructure with an 'Overweight' rating and a price target of ₹310 per share, suggesting a potential upside of 26% from its previous close.

CompanyRatingTarget PriceImplied UpsideAdani Ports and Special Economic Zone Ltd.Overweight₹1,94435%JSW Infrastructure Ltd.Overweight₹31026%

In its note on the ports sector, JPMorgan said India's ports and logistics industry offers structural growth opportunities, underpinned by high entry barriers, industry consolidation, and strong pricing power for established players.

Capacity expansion, rising trade volumes, and efficiency gains are seen as additional growth drivers.

Despite strong stock price outperformance over the past three years, with Adani Ports and JSW Infrastructure rising 70% and 68%, respectively, compared with the Nifty 50, the brokerage believes the sector's long-term strengths are still not fully appreciated.

JPMorgan expects Adani Ports, given its high market share, rapid ramp-up in logistics, and international expansion, to grow revenue, earnings before interest, tax, depreciation and amortisation, and profit after tax at compound annual growth rates of 17%, 15%, and 16%, respectively, over financial years 2025 to 2028.

The growth is expected to be driven by scale, a diversified cargo mix, and an integrated logistics platform.

JSW Infrastructure, supported by the execution capabilities of the JSW Group and strong business relationships within the group, is projected to more than double its capacity to 400 million tonnes per annum by financial year 2030.

The brokerage estimates revenue, EBITDA, and profit after tax compound annual growth rates of 38%, 30%, and 21%, respectively, over financial years 2025 to 2028.

Both companies are expanding their logistics and warehousing presence to diversify revenue streams and improve margin potential, the brokerage said.

Adani Ports shares ended 2.29% lower on Wednesday at ₹1,436.60, while JSW Infrastructure closed 2.58% lower at ₹245.20.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.First Published: Mar 5, 2026 8:12 AM ISTTagsAdani PortsAdani Ports and SEZAdani Ports share priceJSW Infra IPOshare market today