Bank of America Securities sets ₹1,900 target for Ather Energy
Business
Ather Energy shares got a boost on Tuesday, rising 1% after Bank of America Securities gave them a "buy" rating and set a price target of ₹1,900, about 20% higher than where they closed before.
With India's electric vehicle scene heating up, Ather stands out by holding a 16% market share among electric two-wheelers.
All 16 analysts rate Ather 'buy'
Bank of America Securities says Ather's Konark, EL, and AURIC platforms are expected to drive market expansion and capacity scale, plus they expect production costs to drop by up to 10% thanks to the EL platform.
All 16 analysts covering Ather are recommending "buy," and the stock has already soared 115% this year, definitely catching investors' attention.