2 weeks ago
Bernstein upbeat on Adani Ports, Power; cuts Adani Green target
Some very smart money experts at a company called Bernstein study big companies to guess whether their shares will go up or down.
They looked at three companies from the Adani Group in India.
The experts said two of these companies, Adani Ports and Adani Power, are doing really well.
They believe these companies will keep growing and earning lots of money.
So they told investors to buy shares of these two companies.
They even said Adani Ports is one of the best companies to buy right now.
But the experts were not as happy with the third company, Adani Green Energy.
They said its shares are too expensive compared to what it earns.
So they told people to be careful with that one.
Overall, the experts think the Adani Group has become stronger after going through some hard times.
Bernstein retained 'Outperform' ratings on Adani Ports and Adani Power, saying the Adani Group has emerged stronger from recent regulatory and market-related challenges.
The brokerage raised its Adani Ports target price to Rs 1,973 per share from Rs 1,880 and kept the stock among its top picks.
Adani Power received a target price of Rs 220 per share against a current price of Rs 203.56.
Bernstein maintained an 'Underperform' rating on Adani Green Energy, cutting its target price to Rs 980 from Rs 1,000.
The firm cited nearly vanished share pledges, lower leverage, and raised FY27 volume growth estimates for Adani Ports to 12 per cent from 10 per cent.
- Who
- Global brokerage Bernstein rated Adani Group companies Adani Ports, Adani Power, and Adani Green Energy.
- What
- Bernstein retained bullish 'Outperform' ratings on Adani Ports and Adani Power and an 'Underperform' rating on Adani Green Energy, with revised target prices and estimates.
- Where
- India; the report carries an Ahmedabad dateline.
- When
- No specific date given; the assessment references July volume data and forward estimates through 2030.
- Why
- Bernstein believes the Adani Group emerged stronger from the short-seller episode and US SEC-DoJ issue, with share pledges nearly gone and leverage levels down.
Key facts
- Adani Ports rating
- Outperform, target Rs 1,973 (raised from Rs 1,880)
- Adani Power rating
- Outperform, target Rs 220 vs current price Rs 203.56
- Adani Green Energy rating
- Underperform, target Rs 980 (cut from Rs 1,000)
- Adani Ports FY27 volume growth
- Raised to 12% from 10%
- Adani Ports EV/EBITDA multiple
- Raised to 16.5x from 16x
- Adani Power EBITDA estimates
- Rs 2,41,272 million (2027); Rs 3,02,594 million (2028)
- Adani Green FY27 EBITDA outlook
- Expected to decline 10%
- Adani Green WACC estimate
- Changed to 8.6% from 8.8% due to debt-equity mix









