Stocks have risen sharply in the last one year and investors are finding it difficult to identify stocks that are attractively valued. Here are a few stocks that brokerages believe still have the potential to rally.

LKP Bullish on Maruti Suzuki

"Maruti with its widespread network, increasing market share and unanimous leader in this space deserves a higher multiple @20x as currently the stock trades at 18.7x FY 16E multiple. However, with the rally that we have seen over the past few days, we are seeing an upside of about 7% which can be termed as a slight downgrade from BUY to OUTPERFORMER with an increased target price of Rs 3,555," the firm has stated.

The stock is currently traded at Rs 3284.

Buy Indo Remedies, says Prabhudhas Lilladher

Brokerage firm Prabhudhas Lilladher is bullish on LKP and has set a price target of Rs 349 on the stock. "With potential of approvals in key ophthalmic drugs in US in FY15E-17E, we believe that the company's growth in sales, EBITDA margin and earnings quality continue to be high. Indoco plans to open new marketing divisions (including gynaecology), increase growth potential of domestic formulations contributing 61% of revenues of the company. We maintain BUY with TP of Rs 349", says Prabhudas Lilladher research report.

Indoco Remedies is currently trade at Rs 310 on the National Stock Exchange.

Sharekhan sets target of Rs 450 on Bharti Airtel

Sharekhan has set a price target of Rs 450 on Bharti and is bullish on the stock. "We believe that India's mobile business is well placed for a growth on both voice as well as data front led by improving competitive dynamics and structural progression towards data. This would benefit the incumbent players like Bharti Airtel. While Bharti's Africa business is a drag, we believe that the current valuations adequately factors the same, and the business is turning into a self-funding mode, and hence we maintain our estimates on the stock with a Hold recommendation and a price target of Rs 450. (valued at 6.8x FY16 EV/EBITDA)," says Sharekhan research report.

The Bharti stock is currently traded at Rs 390 on the National Stock Exchange.

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