Adani Green's stock price target determined by Jefferies, maintains a buy rating on Investing.com

Jefferies revised its outlook on Adani Green Energy (ADANIGR: IN ), lowering its price target to INR2,000 from INR2,130, while continuing to endorse the stock with a buy rating.

The revision follows Adani Green's quarterly performance, which fell short of analyst expectations, with EBITDA coming in 8% lower than expected.

The report indicated that Adani Green added 250 MW of capacity in the quarter, which was much lower than the 1250 MW expected.

The shortfall in capacity additions has been attributed to extended rainy seasons, particularly in Khavda, which has pushed the addition schedule back to FY 2025E.

In response to the implementation delay and its impact on the company's performance, Jefferies revised its EBITDA forecasts downward for the financial years 2025E to 2027E. Despite these changes, the company recognizes Adani Green's position as India's largest listed clean renewable energy company.

Adani Green Energy is on a mission to increase its capacity fourfold, from 11 GW to 50 GW by 2030.

This impressive growth trajectory is part of the company's commitment to expanding its renewable energy footprint and contributing to India's clean energy goals.

This article was created with the support of AI and reviewed by an editor. For more information see our T&C.