Adani Enterprises shares: Ventura cuts AEL stock price target by 37%; here’s why
Ventura Securities has cut its target price on the Adani group flagship Adani Enterprises Ltd (AEL) by nearly 37 per cent to Rs 3,801 from Rs 5,999 earlier. The domestic brokerage has retained its ‘Buy’ rating on the stock with a price target that still suggests 58 per cent upside over the next 24 months. Ventura’s downward revision in target price came after nearly two years. Its previous target was set at around AEL’s QIP in January 2023.
A sharp volatility in Adani Enterprises share price following the Hindenburg Research episode has elevated the stock’s beta, while a one-year delay in the green H2 project has further impacted DCF valuations, the brokerage said.
That said, Ventura noted that despite the stock volatility following…
