Adani Enterprises stock traded nearly 4% higher at ₹2,505 at the time of writing on Monday, outperforming the wider market significantly.
The surge came at a time when the Nifty 50 is down 0.18% in a muted trading session.
Why is Adani Enterprises bucking market trend? Research firm Ventura on Monday pinned a price target of ₹3,801 on the stock for the next two years.
This would represent a massive upside of 57.72% to the stock from Friday’s closing price.
This is the first time Ventura has shared its analysis on Adani Enterprises, the last time being Janaury 2023 when it pinned a ₹5,999 price target on the stock.
The research firm is bullish due to its expectations for the company to grow its consolidated revenue at 17.5% annually, EBITDA at 37.5% and net earnings at 45.8% in the financial year 2024 to 2027 period.
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