ICICI Securities gives Ather Energy buy rating with ₹2,050 target
Business
ICICI Securities is pretty upbeat about Ather Energy, recommending a buy on its shares with a target price of ₹2,050.
They're expecting big things, like a revenue CAGR of 55% over FY26-29E, and believe Ather will turn profitable by FY28.
Ather could reach 21.5% market share
Ather's strong research and development and its popular AtherStack software (used by over 90% of customers) are key.
The company is betting on India's shift to electric two-wheelers, broadening its market with Konarc, and cutting costs through smarter engineering.
With these moves, Ather could grab up to 21.5% market share by FY29.
Plus, Ather expects revenue CAGR of ~55% over FY26-29E, and it's looking well set for the future.