IIFL gives 'Buy' tag to Adani Power, expects EBITDA to quadruple
IIFL has started coverage on Adani Power with a 'Buy' rating and a target price of ₹240, pointing to its substantial growth pipeline and solid execution. The brokerage anticipates that the company's EBITDA will increase fourfold by FY33-35, driven by the addition of 23.7 GW of thermal capacity. However, potential delays in execution and the inability to lock in power purchase agreements are highlighted as major risks.
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