New Delhi, July 11 -- International brokerage Nomura has reiterated its 'Buy' rating on Ather Energy and raised its target price to Rs.1,470 from Rs.1,120, calling the electric two-wheeler maker its "top pick to ride on EV inflection." The revised target implies an upside potential of 22.5% from the stock's previous closing price of Rs.1,200 on the NSE.

The brokerage expects electric two-wheeler adoption in India to accelerate over the next few years, positioning Ather as one of the key beneficiaries of the structural shift towards electric mobility.

According to Nomura, electric two-wheeler penetration in India is at an inflection point, supported by strong consumer demand and favourable policies from both the Centre and state governme...