Branch2 Intelligence
IIFL initiates coverage on Adani Power with target price at Rs 240, estimates EBITDA to quadruple by FY33-35E
Key takeaway
IIFL initiates Buy on Adani Power with Rs 240 target, forecasting EBITDA to quadruple by FY33-35E.
- Step 11st-order: IIFL initiates Buy coverage on Adani Power with Rs 240 target, citing EBITDA quadrupling by FY33-35E.
- Step 22nd-order: Positive analyst coverage attracts institutional and retail buying, lifting Adani Power's stock price and valuation multiples.
- Step 33rd-order: Higher market cap improves Adani Power's access to equity and debt capital for funding its capex plans (coal, nuclear, hydro).
Source: Economic Times (Markets)
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