Macquarie has initiated coverage on Adani Ports and Special Economic Zone Ltd (APSEZ) with an ‘outperform’ rating, setting a target price of ₹1,500 per share. The firm highlighted that Adani Ports is well-positioned to capitalize on India’s long-term growth potential, supported by its diversified port and cargo mix, which enhances business resilience.
Key insights:
- The integrated nature of logistics offerings should aid further customer lock-in.
- Visibility of recurring operating cash flows remains strong.
- FY25 YTD cargo volumes stand at 409 MMT, reflecting 7% YoY growth.
- FY25 cargo volume guidance remains at 460-480 MMT.
Stock performance:
- Adani Ports’ share price has surged nearly 10% from recent lows.
- At the time of assessment, the stock was trading at ₹1,137.50.
Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Please consult a financial expert before making any investment decisions.
