Goldman Sachs has maintained a buy call on Ola Electric, while reducing the target price to ₹101 per share from the previous ₹118 per share. Despite the revision, the new target still suggests a significant upside from the current market price (CMP) of ₹70.10.
The brokerage noted that Q3 revenue came in above estimates, with the impact of post-festive discounts being lower than expected. Goldman Sachs also highlighted management’s efforts to enhance service network coverage and improve product quality, which are seen as positive steps for long-term growth.
Another key improvement was the reduction in service turnaround time, which improved to 1.1 days in Q3, compared to 2.5 days in the previous quarter. This reflects better operational efficiency and a stronger customer support infrastructure, which could drive consumer confidence and higher sales in the coming quarters.
With the revised target price of ₹101, Ola Electric has an upside potential of over 44% from its current market price of ₹70.10.
(Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Investors are advised to do their own due diligence before making any investment decisions.)
