Adani is ‘too big to ignore’ says Cantor Fitzgerald; sees 50% upside for Adani Enterprises | Mint
The article discusses Cantor Fitzgerald & Co.’s analysis of Adani Enterprises, the flagship company of the Adani Group, predicting a potential return of over 50%. Cantor emphasizes Adani’s pivotal role in India’s economic goals, attributing its current valuation to key sectors like airports, roads, and new energy, which contribute over 85% of revenue. Despite past controversies, including a critical report by a US short seller, Adani Enterprises has rebounded, with its market value more than doubling since a low in February. Cantor acknowledges concerns raised by previous reports but notes Adani’s efforts to address issues like liquidity risk and governance. The analysts set a price target of 4,368 rupees, indicating a 51% upside potential. Adani’s strong performance, coupled with strategic initiatives, positions it as a significant player in India’s economic landscape, according to Cantor Fitzgerald & Co.
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