ReNew Energy Global initiated with a Buy at Mizuho

Mizuho analyst Maheep Mandloi initiated coverage of ReNew Energy Global with a Buy rating and $8 price target. ReNew is one of the largest renewable developers and asset operators in India with 10% market share, the analyst tells investors in a research note. The firm cites the company’s improved fundamentals over the last year, track record of projects that benefit from declining equipment costs and self-funded growth for the Buy rating.