Morgan Stanley names Adani Power a ‘Cash Compounding Machine,’ sees 19% upside potential
Morgan Stanley has upgraded Adani Power's rating to 'Overweight' and raised its price target to Rs 275 from Rs 173, citing a shift to a lower-risk business model, industry-leading growth, and strong return on capital employed. The company's strategic advantage in capex costs and valuation premium also contributes to its growth.