NEW YORK ( TheStreet) -- The BRIC -- Brazil, Russia, India and China -- countries are poised for strong growth in 2012. Fitch forecasts impressive economic growth for BRIC countries, at 6.3% in 2012 and 6.6% in 2013, well above that of major advanced economies.

Goldman Sachs predicts that the BRICs' combined economic growth will surpass that of the U.S. by 2018 and account for nearly 49% of global GDP by 2020. Tepid growth prospects in the U.S. and European economies have served to improve investment opportunities in the BRIC countries, Channelnewsasia.com reports.

Based on average estimates of analysts surveyed by Bloomberg, these 10 stocks have upsides ranging from 6% to 62%. The buy and hold ratings for these stocks are 76% and 22%, respectively, of the analysts polled.

The stocks are listed in ascending order of upside potential.


10. BRF Brasil Foods ( BRFS) is a food company with a product portfolio comprising of more than three thousand items in the meat, dairy and processed food categories under different brands. The company operates 60 plants in Brazil, 3 units overseas, and has 24 overseas commercial offices. It has a relationship with more than 5,000 clients in 140 countries.

Of the 10 analysts covering the stock, 60% recommend a buy and 30% rate a hold. A consensus forecast of analysts polled by Bloomberg has an average 12-month price target of $23.36 for the stock, about 16.2% higher than the current price.

BRF reported net revenue of $6.3 billion for the 2011 third quarter, up 10.4% from $5.7 billion in the same quarter the prior year. Net income for the quarter surged 73% to $365 million, vs. $211 million in the same period last year. The company expects incremental demand for food products and year-end festive demand to drive sales and returns in the fourth quarter.

During the quarter, BRF announced the acquisition of Argentine companies Avex and Dánica, as part of its internationalization strategy and for strengthening the BRF brand. In November, the company announced the acquisition of Heloísa Indústria e Comércio de Produtos Lácteos Ltda, based in Terenos city, Mato Grosso do Sul, Brazil, in a transaction valued at $122.5 million.

BRF plans to expand a meat products plant in Pernambuco, a Brazilian state, reports Valor Economico, a Sao Paulo-based newspaper citing a company official.

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