Hitachi Energy Share Price Target: Nomura, Jefferies, JPMorgan see upside towards ₹46,000 levels after Q2

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Nomura maintained its "buy" recommendation on Hitachi Energy India with a price target of ₹40,030, which implies an upside potential of 40% from Thursday's closing levels. Nomura noted that the company's order inflow beat street expectations by 65% during the quarter.

Global Investment banking firms Nomura, JPMorgan and Jefferies see significant upside for shares of Hitachi Energy India Ltd. after its September quarter results, projecting targets of as high as ₹45,790.

Their bullish outlook comes following its strong September quarter results, which were driven by an 86% jump in order inflows from the same quarter last year, and strong project execution.

Robust long-term visibility across High Voltage Direct Current (HVDC), data centers, and exports as key catalysts supporting premium valuations for the stock, according to these firms.

Nomura maintained its "buy" recommendation on Hitachi Energy India with a price target of ₹40,030, which implies an upside potential of 40% from Thursday's closing levels. Nomura noted that the company's order inflow beat street expectations by 65% during the quarter.

The firm expects Hitachi Energy India's Earnings Per Share (EPS) to grow at a Compounded Annual Growth Rate (CAGR) of 46% over financial year 2026-2029, backed by a strong demand outlook across base ordering, HVDC, and exports.

JPMorgan reiterated its "overweight" recommendation on Hitachi Energy India with a price target of ₹39,000, which indicates an upside potential of 36.6% from Thursday's closing price.

Hitachi Energy's revenue in the September quarter beat JPMorgan's estimates by 13%, while margins were steady, despite gross margin pressure from commodity headwinds and product mix.

Beyond the broad-based ₹4,120 crore order inflow, JPMorgan believes Hitachi Energy’s dominance in HVDC, plug-and-play data center and BESS solutions, high localization, and exclusive Indian execution of parent-level technologies like HMAX will sustain its valuation premium over peers.

Jefferies also has a "buy" recommendation on Hitachi Energy India, with a price target of ₹45,790. This indicates an upside potential of over 60% from current levels.

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