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Adani is too big to ignore! Why US brokerage sees 51% upside in Adani Enterprises
Cantor Fitzgerald initiates coverage on Adani Enterprises with an overweight rating and a target price of Rs 4,368, signaling a 51% upside potential. Adani Enterprises has limited analyst coverage despite being the 10th largest non-financial stock in India. The company has taken actions to reduce liquidity risk, improve governance, and increase transparency. Adani's airports, roads, and new energy businesses are expected to drive growth. The SOTP valuation values the three main businesses at Rs 3,419/share, with shareholders getting the other six businesses for free. Adani's green hydrogen ambitions could further propel shares higher.