New Delhi, Feb. 21 -- Suzlon share price gained over 2% on Friday after brokerage firm Investec initiated coverage on the stock with a bullish view. Suzlon shares rose as much as 2.6% to Rs.56.28 apiece on the BSE.

Investec initiated coverage on Suzlon Energy Ltd. with a 'Buy' rating and a price target of Rs.70 per share, implying an upside potential of 30% from Thursday's closing levels.

According to media reports, Investec believes that Suzlon is well positioned to capitalise on the resurgence in the wind energy sector. The current order book of the wind equipment supplier Suzlon Energy is at an all-time high of 5.5 GW.

The brokerage firm noted that Suzlon has evolved into a net-cash entity with strong Return on Equity (RoE) and Retu...