Investec has initiated coverage on Adani Energy with a “Buy” rating, setting a target price of ₹1,352, indicating a 55.5% upside from the current market price of ₹869.50.
The brokerage highlighted Adani Energy’s opportunity to capitalize on the ₹9 lakh crore transmission market, with smart metering emerging as a new growth segment. Significant earnings growth is expected, driven by strong transmission orders. Additionally, the company anticipates EBITDA and PAT to grow at a CAGR of 32% and 41%, respectively, over FY24 to FY27.
Disclaimer: This report is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making investment decisions.
