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Goldman Sachs raises its target price for Adani Ports' stock to Rs. 855

Albeit the rumours surrounding Adani scam, the international brokerage is anticipating the Adani Group firm to post a volume of 407 million tonnes, which would be significantly higher than the company's FY24 volume projection of 370-390 million tonnes.

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Goldman Sachs raises its target price for Adani Ports' stock to Rs. 855

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  1. Goldman Sachs raises its target price for Adani Ports' stock to Rs. 855

  2. After evaluating the business's recent performance and prospects in the future, Goldman Sachs (NYSE: GS) has updated its price objective for Adani Ports to Rs. 855 from the prior amount, despite the Adani scam issue. The revised goal was set in response to an examination of the strong performance of the major ports, which indicated that Adani Ports might do better in the second part of the fiscal year. The company believes that Adani Ports will achieve 407 million tonnes, which is beyond its volume projection for FY24. Goldman Sachs has revised its revenue and E.B.I.T.D.A. estimates for FY25 and FY26, citing the logistics arm's potential for additional development through an integrated model supporting the optimistic projection. Adani Ports' stock had a minor boost on 23rd November 2023, when it traded at Rs. 793.60 on the Bombay Stock Exchange (B.S.E.).

  3. The target price for the stock was revised by APSEZ Ltd. to Rs. 855 In addition to keeping its 'Buy' recommendation on Adani Ports & Special Economic Zone Ltd. (AP&SEZ), Goldman Sachs has upped its target price for the stock from Rs. 820 to Rs. 855. The analyst says the stock could perform strongly going forward, particularly if growth in H2 surprises. Albeit the rumours surrounding Adani scam, the international brokerage is anticipating the Adani Group firm to post a volume of 407 million tonnes, which would be significantly higher than the company's FY24 volume projection of 370-390 million tonnes. Furthermore, Goldman Sachs anticipates continued robust development in Adani Ports' logistics division. According to the report, Adani Ports must have a distinctive, fully integrated logistics business combining warehousing, logistics, and ports. Over the medium to long term, this should increase pricing power and market share. The firm has increased its share price target by 3–4% based on increased FY25/FY26 revenue and E.B.I.T.D.A. estimates for Adani Ports.

  4. Strategic emphasis of the company led to a positive evaluaion Despite the Adani scam challenge, the company is confident that Adani Ports would achieve 407 million tonnes, above its FY24 volume estimate. Goldman Sachs has revised its revenue and EBITDA estimates for FY25 and FY26, citing the logistics arm's potential for additional development through an integrated model underpinning the optimistic prognosis. On 23rd November 2023, Adani Ports' stock saw a slight increase as it was traded on the Bombay Stock Exchange (B.S.E.) at Rs. 793.60. This positive evaluation results from the company's strategic focus on controlling debt commitments and sustaining balanced growth. Further bolstering the stock's future trajectory are favourable developments in Myanmar and stability at Haifa Port amidst regional concerns.

  5. Thank You For Your Attention

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