Mumbai, Sept. 10 -- The revised target implies an upside of about 17.3% from the current market price.

The brokerage said the launch of Ather's mass-market Konarc scooter, coupled with faster electric vehicle adoption, has strengthened the company's growth outlook. It raised its revenue growth estimates to 54% for FY27, 100% for FY28 and 31% for FY29.

The brokerage expects Ather Energy to sustain a premium valuation of 5-7 times enterprise value to sales (EV/sales), supported by the company's growth prospects.

Ather unveiled the Konarc at its annual Community Day on 29 August 2026. Priced from Rs 99,999, the electric scooter marks the company's entry into the mass-market segment as it seeks to expand beyond the premium end of India's e...