Suzlon Energy shares hit a 5% upper circuit on Tuesday after Morgan Stanley upgraded the stock to ‘Overweight’ with a target price of ₹71. The brokerage highlighted the recent correction in Suzlon’s stock as a prime opportunity for investors to accumulate shares, citing the company’s strong business moat and significant growth potential in the wind turbine Original Equipment Manufacturer (OEM) segment.
Morgan Stanley slightly reduced its FY25 sales volume estimate to 1.3GW from 1.5GW but retained its total sales forecast for FY25-27 at 7.15GW, reflecting confidence in Suzlon’s long-term growth trajectory. The brokerage emphasized Suzlon’s position to benefit from the global energy transition and rising demand for wind power solutions.
“With favorable industry tailwinds and a robust business foundation, Suzlon is poised to leverage growth opportunities in the renewable energy sector,” Morgan Stanley noted.
As of 11:52 AM, Suzlon Energy shares were locked at 4.99% higher at ₹62.22 on the NSE, reflecting strong investor sentiment following the positive outlook.
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