Nomura reiterates Buy on Ather Energy, lifts target to ₹1,470 for 22.5% upside as top EV pick
Nomura raised its Ather Energy target to ₹1,470 from ₹1,120, citing India's two-wheeler EV inflection (penetration seen rising from 6.5% in FY26 to 19% by FY30), an upcoming affordable EL-platform scooter, and expected PAT breakeven by FY29. Ather is projected to hold 18% market share in FY26 with FY27 volumes near 3.99 lakh units.
Nomura reiterated Buy on electric two-wheeler maker Ather Energy, raising target to ₹1,470 (22.5% upside), naming it top EV pick on India's two-wheeler EV inflection, upcoming affordable EL-platform scooter, and expected margin/PAT breakeven by FY29.