JSW Energy Shares Soar Following Morgan Stanley's Positive Coverage

JSW Energy shares rallied up to 7.6% on Friday, reaching Rs 504, after Morgan Stanley initiated coverage with an 'overweight' rating and a Rs 545 target price. The brokerage highlighted JSW Energy's strong market share gains, competitive pricing, and impressive growth prospects. Morgan Stanley projects a 24% EBITDA CAGR over FY24-28, with renewable energy EBITDA expected to grow at a 52% CAGR. The firm praised JSW Energy's well-integrated business model, strong execution record, and reasonable balance sheet. Despite a recent 27% decline in Q3 profits, investors remain optimistic about the company's long-term potential in India's evolving energy landscape.

 

Source: Economic Times, NDTV Profit, Moneycontrol