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BOBCAPS Sees 19% Upside in Ather Energy Shares
Ather Energy makes electric vehicles and its shares have risen sharply over the past year.
On Friday, the shares ended higher at ₹1,431.25.
Bank of Baroda Capital Securities believes the price could rise further and gave the stock a ‘Buy’ rating.
It set a target of ₹1,680 per share, which is about 19% above the cited price.
The brokerage thinks Ather may benefit from making more vehicles and reducing some production costs.
It also pointed to Ather’s plans to enter a lower-priced vehicle segment.
These are the brokerage’s expectations, not a guarantee that the share price will rise.
Bank of Baroda Capital Securities (BOBCAPS) assigned Ather Energy a ‘Buy’ rating and a target price of ₹1,680 per share.
The target implies nearly 19% upside from the share price cited in the report.
Ather shares closed 2.01% higher at ₹1,431.25 on the BSE on Friday, after volatile trading during the week.
The stock gained 129.44% in one year, 74% in six months and 94% in 2026 so far, according to BSE data.
BOBCAPS cited capacity expansion, lower-cost architecture, battery-related savings and entry into the ₹1–1.25 lakh segment as potential growth and margin drivers.
- Who
- Ather Energy and Bank of Baroda Capital Securities (BOBCAPS).
- What
- BOBCAPS gave Ather Energy a ‘Buy’ rating and set a target price of ₹1,680 per share.
- Where
- Ather Energy is headquartered in Bengaluru; its shares are traded on the BSE.
- When
- The share-price report refers to Friday; Ather debuted on the stock market on May 6, 2025.
- Why
- BOBCAPS cited business growth prospects, capacity expansion, cost reductions, battery-related savings and entry into a lower-priced segment.
Bullish brokerage view
Risks and uncertainty
Potential share-price gains
Bullish brokerage view
BOBCAPS rates Ather Energy ‘Buy’ and sees nearly 19% upside to its ₹1,680 target.
Risks and uncertainty
The article provides no opposing analyst forecast; the target is a brokerage estimate, not a guaranteed outcome.
Business growth prospects
Bullish brokerage view
BOBCAPS expects capacity increases, cost reductions, battery savings and entry into a lower-priced segment to support growth and margins.
Risks and uncertainty
These are prospective benefits; the article does not establish that they will be achieved.
Key facts
- Brokerage rating
- Buy
- Price target
- ₹1,680 per share
- Friday BSE close
- ₹1,431.25, up 2.01%
- One-year return
- 129.44%
- Six-month return
- 74%
- 2026 year-to-date return
- 94%
- Planned price segment
- ₹1–1.25 lakh
- Stock-market debut
- May 6, 2025
Quotes
BOBCAPS
Brokerage whose report assesses Ather Energy’s valuation.
“We value Ather at 16x Sep 2028 M-cap/Gross Block, 20% below the average valuation of TVS and BJAUT two key companies (leaders in EV segment) in the 2-W segment.”
livemint.com
“We value Ather at 16x Sep 2028 M-cap/Gross Block ratio, 20% below average valuation of TVS and BJAUT, arriving at TP of Rs1,680, BUY.”
livemint.com
Sources
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