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The Economic Times
The Economic Times
Business
Debaroti Adhikary

Ather Energy shares rally 270% in one year, but Nomura sees 22% more upside. Here’s why

Ather Ather Energy Nomura NSE

Nomura increased its target price for the shares of EV scooter-maker Ather Energy to Rs 1,470 apiece from Rs 1,120 apiece, saying that it expects electric two wheeler penetration trends to accelerate further in India.

Naming Ather Energy as its top pick to ride on the EV momentum, which it believes to be at an inflection point, the international brokerage said that the company is likely to be a key beneficiary from this trend. The latest target price implies an upside potential of 22.5% from the stock’s previous closing price of Rs 1,200 apiece on NSE.

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