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Investing.com - Cantor Fitzgerald has assumed coverage on Adani Energy Solutions (ADANIENS:IN) with an Overweight rating and a price target of INR1,048.00, down from the previous target of INR1,690.00.
The research firm cited Adani Energy Solutions’ continued growth across regulated and contracted transmission segments, as well as increasing revenue from smart-meter annuities and enhanced distribution efficiency.
Cantor Fitzgerald noted that the company’s growth is supported by a transmission pipeline under development worth INR 593.04 billion and a near-term tender pipeline of approximately INR 900 billion.
The firm expressed optimism about the medium-term earnings outlook, pointing to several catalysts including an expanding smart-metering annuity base.
Cantor Fitzgerald identified key focus areas moving forward, including the rate of transmission capitalization, momentum of meter installations, and monitoring balance sheet discipline, particularly as assets shift from service concession agreement recognition to generating operating cash flows.
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