Morgan Stanley has maintained an Overweight rating on JSW Energy with a target price of ₹545, citing its well-integrated business model and strategic investments in renewable energy. The brokerage highlighted that JSW Energy is one of the best Indian utilities to capitalize on the energy transition and energy security trends, backed by its growing green renewable energy business, investments in storage assets, and inorganic expansion of its thermal business.
Morgan Stanley forecasts JSW Energy’s EBITDA to grow at a CAGR of 24% over FY24-28, with its renewable energy EBITDA expected to grow at an impressive 52% CAGR. The brokerage remains bullish on JSW Energy’s growth prospects, driven by its strategic investments, diversified energy portfolio, and robust financial performance.
