morgan stanley has identified three asia pacific stocks as high conviction and actionable trade ideas the stocks are japanlisted renesas electronics  australias macquarie group  and indias icici bank  according to the wall street bank the trade ideas are effective for 13 weeks from july 30 when they were first shared in a note to clients the bank said the three stock ideas highlight actionable highconviction calls made by its equity research team in the preceding week however it cautioned that investors should not interpret these stock ideas as portfolios concepts important to a balanced portfolio such as negative correlation and diversification have not been considered treating three actionable ideas ideas as a portfolio will subject you to the risk of losing all or a substantial portion of your investments the bank said renesas electronics morgan stanley analysts expect shares of renesas electronics one of the largest semiconductor companies in the world to rise by more than 27 over the next 12 months to 3200 yen 2240 the wall street banks analysts believe the companys stock is currently undervalued by the market despite having risen by more than 100 this year the analysts said their conviction is based on 10 discount to comparable companies  nxp  stmicro and microchip  among other factors the consensus price target from analysts compiled by factset points to a 218 upside from the current share price of 2504 yen the stock is also traded in the us over the counter 6723tjp 1y line macquarie group the investment bank expects shares of macquarie group one of the largest infrastructure asset management firms to rise by more than 19 over the next 12 months to 209 australian dollars 137 morgan stanley said its price target was probabilityweighted giving 30 to its bull case and 60 to its base case scenarios the bank said the skew towards a bullish sentiment reflects macquarie groups structural growth options in renewables infrastructure  private market analysts consensus price target as compiled by factset points to a 91 upside from the current share price of 175 australian dollars the stock is also traded in the us over the counter mqgau 1y line icici bank morgan stanley analysts expect shares of icici bank one of indias largest privately held lenders to rise by nearly 40 over the next 12 months to 1350 indian rupees 137 the investment bank last week upgraded indian stocks as a whole to overweight from equal weight citing a solid profit outlook and the countrys attractiveness to investors in a multipolar world the consensus price target of analysts as compiled by factset points to a 216 upside from the current share price of 970 indian rupees 1170 the stock is also listed in the us and has a buy rating from 37 out of 40 analysts covering the lender icicibankin 1y line cnbcs michael bloom contributed to this report