Adani Power shares to rally 17% from current levels? Morgan Stanley lists 4 reasons

Morgan Stanley raised Adani Power’s target price to Rs 185, citing strong earnings visibility, new PPAs, and capacity expansion. The brokerage expects a 20% EBITDA CAGR over FY25–FY33, backed by a robust balance sheet and regulatory clarity. Adani Power’s 41.9 GW portfolio positions it to gain from India’s rising power demand.