Suzlon Energy shares: Morgan Stanley bullish on stock, but cuts target price
Morgan Stanley in its latest note reportedly upgraded Suzlon Energy’s stock to ‘Overweight’ from ‘Equal-weight’ and suggested a revised target price of Rs 71 from Rs 78 earlier. The brokerage finds the recent steep correction on the counter is an opportunity to accumulate stock, as it sees Suzlon Energy Ltd as beneficiary of India’s energy transition.
Suzlon Energy shares are down 15.88 per cent in the past one month. Despite this, the stock is up 54.37 per cent in 2024 so far. On Monday, the scrip closed at Rs 59.40 apiece. Morgan Stanley’s revised target price for Suzlon Energy still suggests a 19.52 per cent potential upside over the prevailing price.
Suzlon Energy, Morgan Stanley said, has a strong business moat, with a large…
