ReNew Energy Global price target raised to $9.25 from $8.75 at HSBC

HSBC analyst Puneet Gulati raised the firm’s price target on ReNew Energy Global to $9.25 from $8.75 and keeps a Buy rating on the shares. The analyst says strong winds bring 17% EBITDA growth, driving net profit, while the company is making small progress on asset recycling even as capacity addition, which is key. Falling module costs and the company’s ability to execute complex projects all bode well for ReNew, the analyst tells investors in a research note.