Stories
Ather Energy Shares Surge as Bank of America Initiates 'Buy' Rating, Sets ₹1,900 Target
C
CNBC TV18•22-09-2026, 09:36
Ather Energy Shares Surge as Bank of America Initiates 'Buy' Rating, Sets ₹1,900 Target
- •Ather Energy shares opened 1% higher after Bank of America Securities initiated coverage with a "buy" rating and a ₹1,900 price target, suggesting a nearly 20% upside.
- •Bank of America views Ather Energy as the "best proxy" for India's EV adoption, noting its 16% market share and top-three position in electric two-wheelers.
- •The brokerage expects the Konark, EL, and AURIC platforms to drive market expansion and capacity scale, with demand currently outstripping supply.
- •Bank of America anticipates margin expansion for Ather, projecting EBITDA margins to reach low teens by FY31 due to the EL platform reducing bill of materials and operating leverage.
- •All 16 analysts tracking Ather Energy currently have a "buy" rating on the stock, which has seen a 115% increase year-to-date.
Key Questions Answered
Bank of America Securities initiated coverage on Ather Energy with a "buy" rating and set a price target of ₹1,900, which represents an upside potential of approximately 20% from its previous closing price.
Bank of America notes that scale will drive Ather's next phase of growth, with the Konark, EL, and AURIC platforms expanding market reach and capacity, while the EL platform is expected to reduce material costs by 8-10% and boost margins.
All 16 analysts currently tracking Ather Energy have a "buy" rating on the stock.
