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Investing.com - Axis Capital (NYSE:AXS) Limited has initiated coverage on Ather Energy Ltd (ATHERENE:IN) with a Buy rating and a price target of INR480.00.
The research firm views Ather as a promising new entrant in the Indian two-wheeler industry with the right ingredients to emerge as a mainstream original equipment manufacturer over the long term.
Axis Capital identified superior product quality/reliability, research and development capabilities, premium positioning, and pricing power as Ather’s key strengths against competitors.
The firm projects these advantages will help Ather gain market share, reaching 17% by FY30E compared to 12% in FY25, while improving profitability over the next few years.
Axis Capital expects Ather to benefit from a fast-growing two-wheeler electric vehicle industry, which it forecasts will achieve a 32% volume compound annual growth rate over FY25-30E, driven by favorable total cost of ownership and product launches by more manufacturers.
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