Ather Energy shares surge on Nomura's bullish outlook and raised price target

Shares of Ather Energy climbed 4% following Nomura's decision to raise its price target for the electric two-wheeler maker to Rs 1,926 per share, up from its previous estimate of Rs 1,714. The brokerage firm reaffirmed its Buy rating on the stock, underscoring a constructive view on the company's prospects.

In its revised valuation, Nomura has assessed Ather Energy at 5.5x forward EV/sales for fiscal year 2029, reflecting optimism about the company's revenue expansion and market positioning. The upgrade suggests the brokerage expects sustained momentum in Ather Energy's business as India's electric two-wheeler segment continues to gain traction amid growing environmental awareness and government incentives.

Ather Energy has established itself as a prominent player in India's emerging EV two-wheeler market, leveraging technology and a growing charging infrastructure network. The latest analyst upgrade highlights investor interest in the company's ability to capture market share during a period of rapid sector growth and transition from conventional vehicles.

The stock movement reflects broader market confidence in Ather Energy's strategic positioning as electric mobility adoption accelerates across Indian cities. Nomura's bullish stance adds to the prevailing sentiment around the company's long-term value creation potential, even as the sector navigates regulatory changes and competitive pressures.