EV Battery Stock: Morgan Stanley sees Rs 700 downside
ev battery stock: morgan stanley sees rs 700 downside
EV Battery Stock: Brokerage firm Morgan Stanley is bearish on Amara Raja as it sees a big downside in the stock. It said that Amara Raja now matches Exide Industries on capability but lags on customer win and in ramp-up timeline.
The brokerage noted that financial returns on lithium battery business are still not clear as EV battery deflation continues.
Morgan Stanley said that it remains selectively OVERWEIGHT in the segment and prefers Exide over Amara Raja.
Amara Raja Share Price Target 2024
Morgan Stanley has maintained UNDERWEIGHT rating on Amara Raja shares. It has set a target price of Rs 967. This implies a downside of Rs 700 from the current price of Rs 1,667.