Jefferies predicts 18% upside for Adani Power stock
Jefferies just gave Adani Power a "Buy" rating, saying the stock could jump 18% to ₹690.
The main reasons? Big plans to boost power capacity, more reliable cash flow, and less risk in future earnings.
Adani Power's growth plans and Bangladesh project boost
Adani Power wants to nearly double its generation capacity by 2030—from 17.6GW to 30GW.
They've already ordered equipment for over 11GW and expect more than 3GW online by early FY28.
Plus, payments from Bangladesh for a major project have eased worries about getting paid on time.
Expected steady earnings, declining debt and growth numbers
Jefferies expects Adani Power's earnings to be steadier as their exposure to volatile merchant sales drops from 18% now to about 10-12% by FY30.
Even with all this growth, their debt is set to fall thanks to stronger cash flows.
The firm is projecting solid numbers: a yearly revenue growth of 20% and EBITDA up by 14% through FY30.