Archive · 12 Oct 2026
Motilal Oswal Sees 73% Upside in Suzlon Energy Shares
Motilal Oswal thinks Suzlon Energy shares could rise from their current price.
It kept its buy rating and set a target price of ₹65.
The brokerage says Suzlon has many wind-power projects waiting to be built.
It expects more wind power to be added in India this financial year.
Motilal Oswal also thinks demand for electricity in the evening could help wind projects.
It sees possible growth from new business models, exports and upgrading older wind farms.
The shares recently rose, but they are still down for the year.
Other analysts are also mostly positive, though some recommend holding the shares.
Motilal Oswal maintained a buy rating on Suzlon Energy and set a ₹65 target, implying 73% upside from the cited current level.
Suzlon shares closed 3.2% higher at ₹37.6 on Friday but were down 28% year to date and near their 52-week low.
The brokerage cited Suzlon’s 5.9 GW order book, which it said provides visibility on delivery estimates through the third quarter of FY2028.
Motilal Oswal expects India’s wind additions to reach nearly 7.5 GW in FY2027 and forecasts Suzlon EBITDA to grow at a 22% CAGR over FY2026–FY2028.
The brokerage also highlighted DevCo orders, export opportunities and Indian wind-farm repowering as potential growth drivers; consensus targets imply 67% upside.
- Who
- Suzlon Energy and brokerage Motilal Oswal.
- What
- Motilal Oswal maintained a buy rating and a ₹65 target price for Suzlon Energy, indicating 73% upside from the cited current level.
- When
- The brokerage note was dated Monday, October 12; the article also reports the shares’ Friday close.
- Where
- India; Suzlon Energy is the company discussed.
- Why
- Motilal Oswal cited valuations, a 5.9 GW order book, expected wind-capacity additions, evening power demand and potential new growth avenues.
- Brokerage rating
- Motilal Oswal maintained a buy recommendation.
- Price target
- ₹65, implying 73% upside from the current level cited in the article.
- Reported share close
- ₹37.6 on Friday, up 3.2% that day.
- Year-to-date performance
- Suzlon shares were down 28%.
- Order book
- 5.9 GW at the end of the June quarter.
- EBITDA forecast
- Motilal Oswal expects 22% CAGR over FY2026–FY2028.
- Analyst coverage
- Of 12 analysts, 10 rate the shares buy and two rate them hold; none has a sell rating.
- Consensus target implication
- Consensus price targets imply 67% upside from current levels.