Buy Suzlon Energy; target of Rs 70: Motilal Oswal

Buy

Motilal Oswal's research report on Suzlon Energy

We initiate coverage on Suzlon Energy (SUEL) with a BUY rating and a target price of INR70/share, implying 21% upside. SUEL is a global leader in wind energy with an installed capacity of ~20.9GW across 17 countries. It is India's top wind energy service provider with the highest installed capacity of ~15GW, operating with a vertically integrated structure, including in-house R&D and manufacturing facilities in India. SUEL's operations span wind turbine generator (WTG) sales, project execution, foundry and forging components, and operation and maintenance (O&M) services.

Outlook

We arrive at a target price of INR70 by applying a target P/E of 34x to Dec’26E EPS. This is at a slight premium to historical average 2-year fwd P/E of 27x given execution and earnings are just picking up for SUEL.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More