Jefferies assigns 30% upside to Adani Enterprises, Bernstein sees 60% gain in other Indian stocks
Four international brokerages initiated coverage on specific Indian equities. Jefferies targets Adani Enterprises at a 30% rise while Bernstein forecasts 14% downside for BSE.
International brokerage firms have begun actively covering selected Indian equities following recent market activity. Jefferies assigned a Buy rating to Adani Enterprises with a target price of Rs 3,830, indicating a potential rally of 30% from the previous close. The firm projects a higher bull case at Rs 4,700, implying a 60% upside. Analysts attribute this optimism to Rs 2 trillion in planned investments between FY26 and FY31 across infrastructure and energy sectors. They estimate earnings will grow by 23% annually driven by airports, data centers, and ANIL. Another broker, Bernstein, initiated coverage on BSE with an Underperform rating and a target of Rs 2,820. This suggests a possible drop of up to 14% from the closing price of Rs 3,394 due to moderating retail participation in derivatives. International brokerage Bernstein also assigned an Outperform rating to MCX at Rs 3,830, forecasting 15% gains as commodity derivative participation expands. The Wall Street firm added Astra Microwave with a Buy rating and a target of Rs 2,055, expecting 20% gains over its current price of Rs 1,733.
