Morgan Stanley has reaffirmed its ‘Overweight’ rating on Suzlon Energy with a target price of ₹71, implying a 40.8% upside from the current market price of ₹50.44. The brokerage cited a strong Q3FY25 beat, supported by robust earnings performance.
Suzlon has a large order book of 5.5GW, which is expected to be executed in Q4FY25 and FY26. Additionally, the company anticipates improvement in wind industry constraints related to land acquisition from FY26 onwards.
Morgan Stanley also noted an increase in turbine inquiries, signaling growing demand. Furthermore, Suzlon has announced a capital expenditure plan of ₹350-400 crore for establishing new blade manufacturing lines in Madhya Pradesh and Rajasthan, which is expected to enhance production capabilities.
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