JP Morgan ups Suzlon to 'overweight'
India will once again be the primary market for Suzlon.
- (1888PressRelease) January 13, 2011 - JP Morgan has upgraded Suzlon Energy to "overweight" from "underweight" and raised the target price to 64 rupees from 41 rupees as it believes India will once again be the primary market for Suzlon. In a note, J P Morgan said the Indian wind market has potential to grow from approximately 2.2 GW in FY11 to approximately 3-3.5 GW in FY12.
"Favorable regulatory changes, pick-up in independent power producers (IPP) investments in wind and positive steps towards trading in renewable energy all point to this. The commencement of trading in renewable energy certificates (RECs) will be a key development, and is a step towards a uniform 15 percent renewable purchase obligation (RPO) for India, as originally envisioned in the National Action Plan for Climate Change (NAPCC)" added the note.
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