Adani Power a ‘buy’: Goldman Sachs

Goldman Sachs has a ‘Buy’ rating on Adani Power with a target price of Rs 85, with a view that coal supply situation is likely to improve.

While there could be continuing pressure on near term earnings due to fuel issues, the stock already reflects these risks.

The target price was reduced from Rs92 earlier due to delay in commissioning capacities and lower supplies from its Bunyu coal source.