Adani Ports shares approach record high after four months; time to buy?

Shares of Adani Ports and Special Economic Zone Ltd have approached their record highs after four months. The Adani Group stock has gained 25% in 2026, hitting its record high of Rs 1891.80 on July 3, 2026. The stock hit an intra day high of Rs 1863.55 on Monday.

Adani Ports stock, which has doubled investor wealth in three years with returns of 139%, closed at Rs 1851 in the previous session. Market cap of the firm stood at Rs 4.26 lakh crore.

The Adani Group stock has seen high volatility in the last one year with its beta at 1.38. The stock is trading above the 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The relative strength index (RSI) of Adani Ports stands at 61.7, signaling it's trading neither in the oversold nor in the overbought zone.

ICICI Securities has a price target of Rs 2210 on the Adani Ports stock.

APSEZ targets to grow its revenues/ EBITDA/ net CFO at a CAGR of 19%/18%/18% over FY26-FY31. The brokerage recommended a buy call with a target price of Rs 2210 on the stock .

However, it cited key risks to its assumptions.

a) Escalation of geopolitical tensions.

b) Delay in approvals which may stall expansion plans.

Global investment bank Jefferies has a price target of Rs 2180 on the Adani Group firm.

"Our Rs 2,180 PT (vs. Rs 2,160 earlier) factors in 1-4% FY27E-29E EBITDA revisions to reflect Sep-26Q/management guidance and is based on 16x Sep’28E EV/EBITDA, broadly in line with the long-term historical average. Downside risks include 1) weak capital allocation, 2) incremental negative news flow on group leverage, and 3) weak organic volume," said Jefferies.

JP Morgan reiterated its 'Overweight' call on Adani Ports and raised its price target to Rs 2,076 from Rs 2,000 earlier, citing higher EBITDA estimates.

Nuvama Institutional Equities estimates the company will clock a revenue, EBITDA and profit after tax (PAT) compound annual growth rate (CAGR) of 16 per cent, 15 per cent and 14 per cent, respectively, over FY26-29. The brokerage has a December 2027 target price of Rs 2,170, up from Rs 2,000 earlier. It retained its 'Buy' rating.