India's Ather Energy touches record high on narrower Q1 loss; analysts raise targets
BUZZ-India's Ather Energy touches record high on narrower Q1 loss; analysts raise targets ** Shares of electric vehicle maker Ather Energy ATHR.NS up 14.05% to a record high of 1451.50 rupees
** Co posts Q1 loss of 508.7 million rupees ($5.34 million) vs loss of 1.78 billion rupees last year; revenue up about 90%
** Brokerage Emkay says Ather indicated 1-2% impact in Q2 from ongoing supply chain challenges vs 5-6% in Q1; price hikes, benefits from EL platform to offset impact
** Brokerage Ambit says commodity super-cycles to limit gross margin expansion in FY27 but tight cost control will aid margin recovery
** Emkay ups PT by 19% to Street-high of 1,600 rupees, Ambit raises PT to 1,398 rupees from 1,074 rupees
** Avg rating of 10 analysts is a "buy," median PT is up to 1,398 rupees from 1,077 rupees - data compiled by LSEG
** YTD, stock up 9.46%
($1 = 95.3300 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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