New Delhi, Nov. 18 -- Adani Green Energy received a bullish outlook from domestic brokerage firm JM Financial, which initiated coverage on the stock with a target price of Rs.1,289 apiece, indicating an upside of 19% from the previous close of 1,088.

JM Financial highlighted the company's strong execution track record and group-level synergies, adding that it expects Adani Green to achieve its ambition of reaching 50 GW of capacity by FY30.

The brokerage highlighted three key factors behind its bullish stance on Adani Green Energy:

JM Financial said the company has demonstrated a strong execution track record, adding nearly 14 GW over the past decade while effectively leveraging synergies across the Adani Group's transmission, distribu...