Motilal Oswal Initiates Buy on Adani Enterprises With 25% Upside Target

Motilal Oswal Financial Services has launched coverage of Adani Enterprises with a Buy recommendation, setting a price target of Rs 3,880 per share. According to the initiation report, this target implies 25% upside from prevailing market prices. The brokerage highlighted that EBITDA is expected to more than double by FY29, supported by multiple growth drivers including the company's airports, new energy, roads, and copper businesses. Faster earnings growth and easing leverage were identified as key factors supporting the positive outlook on the stock.

For investors monitoring Indian infrastructure and conglomerate plays, this initiation carries broader significance as it reflects broker confidence in Adani Enterprises' diversified revenue streams across high-growth sectors. The emphasis on leverage reduction appeals to risk-conscious institutional investors, particularly important given increased scrutiny on capital structure in large Indian corporates. Growth in infrastructure assets—airports, roads, and renewable energy—aligns with India's medium-term economic expansion themes and government capex push. The copper business component also ties the company to global commodity cycles and energy transition narratives. Such initiations from major Indian brokerages often serve as barometers for institutional sentiment on large-cap infrastructure plays and can influence fund allocations toward the sector.

Source: Markets-Economic Times