CLSA believes Ather Energy’s shares can rally to Rs 1,450 over the next 12 months, implying nearly 60% upside from current levels, driven by what it calls a “twin engine” of cost deflation and premiumisation in India’s electric two-wheeler market.
CLSA has initiated coverage on Ather Energy with an “Outperform” rating and a 12‑month target price of Rs 1,450. The stock was trading 4% higher this morning at Rs 993.
