Jefferies has retained its ‘Buy’ rating on Adani Green Energy, seeing 35% upside from its recent closing price of Rs 1,255 to a target of Rs 1,695, after a 22% correction from the stock's peak brought valuations to more reasonable levels. The brokerage believes rising power demand, improving utilisation at its Khavda project and the company's expanding battery storage business could support growth despite concerns over higher interest costs following the Reserve Bank of India's rate hike.
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