Suzlon Energy to meet JPMorgan, 2 others this month; key details

Suzlon Energy, which has received 'Buy' recommendations from a couple of brokerages recently, would be sending its representatives to attend investor meet or conferences organised by  ICICI Securities, JPMorgan and Motial Oswal in the remained of the month.  
Suzlon Energy said the company’s presentation, as available on the website of the company as well as on the website of the stock exchanges, would only be presented and discussed and no other unpublished price sensitive information would be shared during the said meetings.
Suzlon Energy representatives would meet ICICI Securities physically on September 11-12 and September 15-17. They would attend investor meet hosted by JPMorgan on September 22. Later in the month, they would attend Motilal Oswal conference from September 23-26. 

JM Financial on September 1 suggested a 'Buy' and a target of Rs 78 on Suzlkon Energy after hosting Girish Tanti, Executive Vice Chairman at Suzlon Group at its JM Financial Promoter conference. 

MOFSL in fact recently hosted JP Chalasani, Group CEO of Suzlon Energy, for an expert session on the wind industry. Chalasani, the brokerage said, has reiterated his long-term commitment to Suzlon Energy, highlighting that his position as CEO carries no defined sunset clause. 

"He noted that an approved list of models and manufacturers (ALMM) in wind turbine generator (WTG) manufacturing is likely the first step toward reducing India’s import dependence, with the government possibly extending localization mandates further in the coming years. He believes that foreign OEMs’ transition to building domestically may entail multiple complex and time-consuming challenges. However, more details about the localization order are still awaited and can add to the complexity of indigenization," MOFSL said.

The brokerage continued to believe Suzlon Energy remains well-placed to benefit from favorable policy tailwinds, localized supply chain advantages, in-house R&D, and execution readiness vs. global and domestic peers. We reiterate our Buy rating on Suzlon with a target price of Rs 80.

Last month, Axis Securities suggested a target of Rs 72 on Suzlon Energy, saying  the company is in a position to benefit from the tailwinds in the Indian RE sector. Suzlon Energy, it said, has strong revenue visibility with expected improvement in execution and a strong order book. 

"We recommend a Buy rating on the stock with a target price of Rs 72 per share," it said.