The average analyst price target on Adani Ports available on Bloomberg after the third quarter results stood at Rs 1,301.05, implying an upside of 3.1% over Friday’s closing. Analysts said the company’s record profit was driven by strong volumes and the growth outlook remains strong.
HSBC said that the company achieved its deleveraging target earlier than the goal and robust cash flows will support future acquisitions and capital expenditure. “We think its diverse and sticky cargo should buffer the impact of trade uncertainties, while vertical integration and the addition of Vizhinjam and Colombo terminals should strengthen its capacity and pricing power,” said HSBC.
However, analysts said that it anticipates a slightly longer gestation period for overseas assets as the Red Sea disruptions and the Israel-Gaza conflict weigh on its Haifa port.
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