Cantor has initiated coverage on Adani Green Energy Ltd (AGEL) with an ‘Overweight’ rating and set a target price of ₹1,222, implying a 40% upside potential from the current market price of ₹871.90. The brokerage sees India’s push for net-zero emissions and increased renewable energy capacity as key growth catalysts for AGEL.
Adani Green is India’s largest renewable energy company, developing, owning, and operating solar, wind, and hybrid solar-wind power plants across the country. The company currently has a power portfolio of 11.6 GW, positioning it at the forefront of India’s clean energy transition. Cantor believes that as India remains committed to reducing carbon emissions, the push for higher renewable energy adoption strengthens the investment case for AGEL.
Given its strong growth trajectory in renewable energy capacity expansion, Cantor sees significant upside potential in the stock, reinforcing its bullish stance on Adani Green.
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