Suzlon Energy’s stock has received a bullish signal from the Morgan Stanley brokerage firm, which has issued a BUY rating for the shares. On October 19, the stock was trading at Rs 62.22, reflecting a 4.99% increase.
Target Price and Investment Potential
Morgan Stanley has set a target price of Rs 71 for Suzlon shares, indicating a potential return of 20% for investors. The brokerage firm views the recent decline in share prices as a buying opportunity.
Recent Performance and Market Dynamics
Suzlon shares have fallen by 38% from their peak of Rs 86.04, prompting a reduction in the circuit limit from 10% to 5% after a 9% drop last week. Despite these fluctuations, Suzlon’s stock has gained 53% in 2024.
Future Growth Prospects
Morgan Stanley believes in Suzlon’s strong business fundamentals and the growing demand for wind energy equipment. Although the FY25 sales volume estimate has been adjusted to 1.3 GW, the overall forecast for 2025-2027 remains robust at 7.15 GW.
Disclaimer: Investing in the stock market involves risks. Always consult a financial advisor before making investment decisions.
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Summary at glance
Morgan Stanley has issued a positive outlook on Suzlon Energy’s shares, assigning a BUY rating and setting a target price of Rs 71, indicating a potential 20% return for investors. As of October 19, the stock traded at Rs 62.22, up 4.99%. Despite a recent 38% drop from its high, Morgan Stanley views this as a buying opportunity due to strong growth prospects in wind energy. Shares have risen 53% in 2024, reflecting ongoing recovery.
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