CLSA initiates Ather Energy at 'Outperform', sees 57% upside on product-led growth cycle
CLSA sets a Rs 1,450 target (57% upside) on Ather Energy, citing India's shift to product-led EV two-wheeler growth, premium positioning, and the Ather Stack software ecosystem. It projects a fourfold volume jump and ~40% CAGR over FY26-FY30, with market share nearing 22% by FY28.
CLSA initiates coverage on Ather Energy with 'Outperform' and Rs 1,450 target (57% upside), citing India's shift to product-led EV two-wheeler growth, premium positioning, Ather Stack software ecosystem, and projected fourfold volume growth by FY30.