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Morgan Stanley maintains overweight stance on Tata Power; raises target price to Rs 80

Updated : December 01, 2020 04:51 PM IST

Morgan Stanley while retaining its overweight stance on Tata Power has raised its FY22 EPS estimate by 7 percent and FY23 estimates by 9 percent. They have raised the earnings estimates to factor in Mundra's strong operational performance.

According to the investment bank, the improving execution for solar EPC business and recent debt refinancing is a positive for the company. Hence they have raised the target price on the stock to Rs 80.

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