India's Suzlon gains as Morgan Stanley upgrades to 'overweight'

Suzlon Energy

19/11/2024 05:09

** Shares of Indian wind energy equipment maker Suzlon
 SUZL.NS  jump 5% after Morgan Stanley upgrades to "overweight"
from "equal-weight"
    ** Morgan Stanley says steep correction in SUZL a buying
opportunity to "accumulate" as growth opportunity for wind
energy equipment makers remain strong
    ** SUZL shares have fallen nearly 27% after hitting a
14-year high in September
    ** Brokerage lowered its target price to 71 rupees from 78
rupees
    ** Morgan Stanley sees SUZL as a beneficiary of India's
energy transition as country adds more renewable energy
    ** Brokerage expects SUZL's market share to increase from
present 25% to 35-40% in FY 2027

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))