NEW YORK (TheStreet) -- Empresas ICA (ICA), Citigroup (C - Get Report), Mizuho Financial Group (MFG), Natuzzi (NTZ - Get Report), Sumitomo Mitsui Financial (SMFG), Gentium S.p.A. (GENT), Bona Film Group (BONA), Lloyds Banking Group (LYG), China Ming Yang Wind Power (MY) and Flamel Technologies (FLML) are expected to return up to 112%, based on their respective 12-month price targets.

These 10 stocks have market caps above $100 million and are trading at less than $10 a share. Analysts expect these 10 stocks to outperform their peers and broader markets, based on their respective 12-month price targets. These stocks have an upside potential of 24% to 112% with an average upside value of around 61% and average buy ratings of 69%.

These stocks pan sectors such as financials, information technology, engineering, furniture, pharmaceuticals and entertainment.

10. Citigroup ( C - Get Report) is a diversified, international financial services conglomerate.

Net income reported for first-quarter 2011 was $3 billion, declining from $4.4 billion in the year-ago quarter but doubling sequentially. The 32% drop in first-quarter earnings topped analysts' estimates as earnings from consumer banking improved and reduced the allowance for future losses.

Consumer net credit losses dropped 32% to $5.4 billion, driven by the continued improvement in credit cards and residential real estate lending. Net credit losses were $6.3 billion, sliding 25% from 2010 first quarter. As a sign of improving credit quality, Citigroup's total allowance for loan losses at the end of March was $37 billion, or 5.8% of total loans, down from $49 billion, or 6.8%, in the same period last year.

For 2011 first quarter, Citigroup reported revenue of $19.7 billion, narrowing 22% from 2010's first quarter. Net interest revenue was $12.2 billion, 16% lower than the prior-year period, largely attributable to declining loan balances in local consumer lending.

The stock is trading at 10.6 times its estimated 2010 earnings with a potential upside of 24% in the next year.

9. Empresas ICA ( ICA) is a leading engineering, construction, procurement and infrastructure company in Mexico.

In the first quarter of 2011, ICA reported that net income of controlling interest increase by 34% on improved revenue growth and operational performance. Net revenue grew 21% to $740 million during the quarter, and EBITDA increased 28% to $124 million from the first quarter in 2010. The construction and concession segments contributed toward the majority of the increase in EBITDA.

EBITDA margin for the first quarter was 16.9%, compared with 16% in the same quarter in 2010, and operating margins improved from 8.8% to 9% in the recent quarter. As of the end of March 2010, ICA's construction backlog was $3.9 billion, up 17% compared with the same period last year.

For full-year 2011, the company expects revenue to grow by 15% and EBITDA margin of around 16%. Most of the 2011 growth is expected to come from the construction and infrastructure businesses. Analysts expect the stock to gain around 32% in the next one year, and it is trading at 17 times its estimated 2011 earnings.

8. Mizuho Financial Group ( MFG), operating through its subsidiaries, provides a suite of banking and financial services in Japan and the international markets. The company offers retail-banking services including housing and personal loans, credit cards, deposits, investment products and consulting services.

Net income for the nine months ended December 2010 more than tripled to $5.2 billion on a year-on-year basis. Consolidated gross profit for the nine-month period ended December 2010 rose 5% year-over-year to $19 billion, aided by trading gains and the emergence of a customer group segment, both domestic and overseas, arising mainly from non-interest income.

During the first nine months of fiscal 2011, the company strengthened its capital base by plowing back profit and through issuance of common stock in the first half of fiscal 2010. The company's medium-term target is to take its Tier 1 capital ratio to 12% and capital ratio to 8%.

Analysts expect the stock to return 47% in the next one year.

7. Natuzzi ( NTZ - Get Report) is Italy's largest furniture manufacturer and the world's leading manufacturer of leather-upholstered furniture.

During 2010, net revenue was $774 million, up 0.6% compared with 2009. Europe contributed nearly 50% of the sales in 2010, while the U.S. and other world markets accounted for the remaining. In terms of growth rates, the performance of the rest of the world and the U.S. was strong, while Europe lagged.

For full-year 2010, EBITDA improved to $35.5 million from $24.2 million in 2009. EBIT for 2010 was a positive $600,000, compared to a negative EBIT of $15.8 million for full year 2009.

On the improving financials, Pasquale Natuzzi, the company's CEO, said:

"Despite steady total sales in 2010, we finally reached a positive operating result after three years of negative EBIT. We believe these results are below our growth potential, that we expect to reach in the following years considering the investments made in factories requalification, development and awareness of the brands, as well as in the expansion of foreign commercial branches to improve our market presence."

The stock is trading at five times its estimated 2011 earnings and analysts expect 49% upside over the next one year.

6. Sumitomo Mitsui Financial ( SMFG) provides various consumer, commercial and corporate banking and other financial services in Japan.

During the first nine months ended December 2010, ordinary profit and net income increased 65% and 108% to $9.1 billion and $6.4 billion, respectively, on substantial trading gains. A reduction in credit costs boosted overall profitability during this period

The company is targeting to gain traction in the overseas markets, especially Asia. It has opened a branch each in China and India. The bank has an alliance with RHB Bank of Malaysia, and supports local banks in Japan for their corporate customers' overseas business. The company intends to focus on the wholesale and retail businesses in the future.

The company's capital ratio increased to 16.54% and Tier 1 ratio to 12.6%. In the earnings forecast for fiscal 2011, the management guides 56% in ordinary profit and 99% in net profit. The stock could deliver up to 55% in the next one year.

5. Gentium ( GENT) is an Italian biopharmaceutical company focused on the development and manufacture of drugs for vascular diseases related to cancer and cancer treatment.

For full-year 2010, total revenue was $36 million, up from $15.2 million in 2009. Operating income was $6.7 million, compared with a loss of $6.8 million. Net income was $6.1 million, improving from a loss of $6.8 million.

Earnings per share were 40 cents, compared with a negative 45 cents per share in 2009. Operating cash flow was $12.2 million, compared with negative cash flows in 2009. The company has cash of $13 million and reduced debt in its books. The stock is trading at 11 times its estimated 2011 earnings and is expected to gain 62% in the next one year.

4. Lloyds Banking Group ( LYG) is a U.K.-based financial services company operating in the retail, wholesale, international banking and insurance segments.

Pre-tax profit of 2010 beat analysts' estimates at $3.6 billion, compared with a $10.3 billion loss in 2009. Total income grew 3% to $38.9 billion, boosted by core business income, which grew 7% for the year.

Though higher funding costs piled pressure, prudent lending improved net interest margin to 2.1% from 1.77% in 2009. The 45% reduction in impairment charge to $21.5 billion improved overall profitability. Lower operating expenses improved the cost-to-income ratio to 46.2%, compared with 50.7% in 2009.

At the end of 2010, Tier 1 ratio was 11.6% and capital ratio was 15.2%. On average, analysts expect the stock to gain 71% over the next one year.

3. Bona Film Group ( BONA) is China's leading privately owned film distributor, with interests in film distribution, film production, film exhibition and talent representation.

During 2010, net revenue increased to $52.8 million, compared with $38.4 million in 2009, with around $11.3 million contributed from company's movie theatre business during April 2010. The acquisition improved gross margin to 49.8% from 48.2% in 2009, as gross profit boosted $6 million in 2010.

Net loss for full-year 2010 was $4.2 million, compared to net income of $5.5 million for 2009, due to a change in fair value of embedded derivatives associated with the company's preferred shares. Excluding changes in fair value of derivatives and warrants and share-based compensation, the company's 2010 net income was $10.8 million, increasing 100% increase year-over-year.

The stock is trading at 16 times its estimated 2010 earnings with an estimated upside of 76% in the next year.

2. China Ming Yang Wind Power ( MY) is a wind turbine manufacturer in China, focusing on the design, manufacture and service of wind turbines.

During the fourth quarter of 2010, total revenue stood at $260 million, increasing 15% over third-quarter 2010 and 404% over fourth-quarter 2009. Net income for the period stood at $32.2 million, up 19.7% over the third quarter of 2010. The company incurred a loss in the fourth quarter of 2009.

Gross margin for the fourth quarter was 22.3%, compared with 16.7% in the previous quarter and 12.3% in the year-ago quarter. During the period, wind turbine generators commissioned by the company reached a historical high of 253 units of 379.5 megawatts, rising 6% over the third quarter of 2010 and 462% over the fourth quarter of 2009.

For 2011, the company targets sale contracts at 1,400 units of 1.5 megawatt WTGs and 100 units of 3 megawatt super compact drive WTGs. The stock is trading at 6.5 times its estimated 2011 earnings with an estimated upside of 77% in the next year.

1. Flamel Technologies ( FLML) is a biopharmaceutical company with two intellectual property platforms: Medusa, for the controlled release of proteins, peptides and other molecules, and Micropump, for the controlled release of drugs best absorbed in the small intestine.

During the fourth quarter of 2010, the company's revenue increased to $13.5 million in comparison with $10.6 million in the year-ago period, boosted by higher license and research revenue as well as higher Coreg CR royalties. Net income was $2.7 million, vs. a net loss of ($5.7 million) in the fourth quarter of 2009.

Commenting on the profitability, Stephen H. Willard, Flamel's CEO, said in a press statement: "Our profitability in the fourth quarter resulted from the progress we made in the development of an extended-release formulation of interferon beta 1-a with Merck Serono. For the year 2010, we reduced our level of loss as we strengthened our relationships with many of the world's largest pharmaceutical companies."

Willard added: "Other licensing agreement discussions, including those that we were negotiating in 2010, are still ongoing. The number of licensing negotiations is greater now than at any point in the history of the company."

Analysts expect the stock to gain around 112% in the next one year.

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