BofA analyst Julien Dumoulin-Smith raised the firm’s price target on ReNew Energy Global to $7 from $6 and keeps a Buy rating on the shares. While noting the company’s FY24 guidance came in lighter than the firm had expected, BofA expects ReNew Power will achieve its longer-term run rate EBITDA target of INR 89-94B and sees the long-term proposition as “intact,” the analyst tells investors.
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