Ola Electric stock has shown a strong recovery, jumping nearly 5% from intra-day lows and is now trading with a gain of over 3%. The current price of the stock is ₹121.
Investors continue to worry about Ola Electric
Investors are constantly worried about Ola Electric. The stock gave multibagger returns after listing and made a new high of Rs 157. The stock is now slowly going down. Meanwhile, Bank of America and Goldman Sachs have released their report on Ola Electric. In this, many interesting points have been focused on, as well as new targets have also been given.
Electric Mobility stock movement
If we look at the movement of Electric Mobility shares, it is trading at a price of Rs 121 per share. In its latest report, Goldman Sachs has said important things related to the company. The brokerage says that the company can become a big player in India’s electric two-wheeler market. Revenue growth is expected to grow at a rate of 40% compound annual growth from FY 2024 to FY 2030, which means that the company will breakeven i.e. turn from loss to profit with free cash flow in FY 2030. The company is expected to achieve 11.9%/27% EBITDA Margin by FY 2030. In-house battery cell manufacturing will drive further growth of the stock in the coming years.
Goldman Sachs has a buy rating on the stock
Goldman Sachs has given a buy opinion on the stock and the target has been set at Rs 160. BofA i.e. Bank of America has also released its report on Ola Electric. The report states that with a 40% share, Ola Electric is India’s largest electric two-wheeler company. The price of e-scooters has now become lower than petrol scooters. Ola has solved the main pieces of the EV puzzle. The company’s portfolio is quite good. It is expected to reach a rate of 18% by FY 2028 and 25% by FY 2030.
Bank of America has given a buy recommendation on the stock and has given a target of Rs 145 per share.
(Disclaimer: (Please consult a SEBI registered advisor before investing in any stock offered by Business Today Bazaar)