Adani stocks: These three shares got target price hike - here's why | Do you own?

Global brokerage Jefferies has raised target prices on three Adani Group  stocks-Adani Power, Adani Ports and Adani Enterprises. The upgrade comes on the back of strong operational performance, capacity expansions, and improving realisations across the businesses. 

The US-based brokerage retained its 'Buy' call on the three firms, signalling optimism on volume front, EBITDA improvement, and strategic executions amid rising demand in ports, power, and diversified infra.

The brokerage said all three companies clocked better-than-expected business performance, especially in recent quarters. 

Adani Power reported a 64% rise in Q4 net profit to Rs 4,271 crore compared to Rs 2,599 crore in the same period a year ago. Adani Power’s revenue from operations were flat, falling 0.10% to Rs 14,233 crore in the January to March quarter, compared to Rs 14,237 crore in the same period a year ago.

Adani Ports reported a 10.4 per cent year-on-year rise in net profit to Rs 3,329 crore in Q4. Revenue surged 26.5 percent to Rs 10,737 crore.

Adani Enterprises reported a consolidated net loss of Rs 220.7 crore attributable to owners, compared with a net profit of Rs 3,845 crore in the year-ago quarter. The company logged a loss due to the absence of an exceptional gain of Rs 3,945.7 crore logged in Q4 FY25 following a stake sale in AWL Agri Business.

Revenue from operations climbed 20.3 percent year-on-year to Rs 32,439.3 crore in Q4, while total income increased to Rs 33,187 crore. 

Jefferies raised its target price to Rs 2,800 per share. The brokerage said EBITDA growth was led by airports, copper and infrastructure segments, even as profit after tax turned negative due to higher depreciation. It added that management expects a strong ramp-up in EBITDA from FY27.

The brokerage raised Adani Power’s price target to Rs 255 from Rs 185. The brokerage assigned a 20x FY28E EV/EBITDA multiple. The revision assumes a 23% EBITDA CAGR through FY26-29E, backed by capacity expansion plans. Jefferies sees capacity to double to 30.7 GW by FY30E. 

In case of  Adani Ports, the brokerage raised its price target to Rs 1980, 

Jefferies raised its target price on APSEZ to Rs 1,980 from Rs 1,825. Jefferies noted that during March 2026 quarter, EBITDA beat its estimates by 9%. The beat was due to a 9% year-on-year rise in domestic port realisations. The management has guided for 9% to 14% year-on-year FY27E EBITDA growth, compared with Jefferies’ 11% forecast.