Premier Energies share price may rally 28%, says Motilal Oswal as it initiates coverage with ‘Buy’

Stocks to buy: Domestic brokerage firm Motilal Oswal, in its latest note, has initiated coverage on Premier Energies, the country’s second-largest integrated manufacturer of solar cells and modules, with a ‘buy’ rating and has set a target price of ₹1,000 apiece, which indicates an upside potential of 28.2% from the stock’s latest closing price.

While the stock has remained under pressure in recent months, the brokerage’s optimistic outlook is driven by the company’s strong capacity ramp-up, industry-leading backward integration, and a robust order book.