Suzlon Energy shares: Multibagger stock rises 3,500% in 5 years, check the latest targets

Shares of Suzlon Energy Ltd continue to remain in the spotlight on Dalal Street and the brokerage firms continue to remain positive on the stock even after the recent recovery in the counter considering the company's strong order book, the government's focus on reviewable energy and other factors. Some analysts have recently imitated the coverage on it, which was once a penny stock.

Suzlon Energy is a vertically integrated wind turbine manufacturer and O&M service provider with over 20.9GW of installed capacity across the globe. It announced a third repeat order to the tune of 204.75 MW from Jindal Renewables, making it its largest C&I customer. The total orders from Jindal Renewables now stand at 907.20 MW, said Geojit Financial Services.

In order to meet the increase in demand in the future, management stated that they have made a significant ramp-up in capacity to over 4.5 GW with revamped Pondicherry and nacelle facilities. They have also added new blade lines in Madhya Pradesh and Rajasthan, said the brokerage firm.

"Order inflows to remain strong in the near term and the C&I portfolio to expand further in the mix. WTG deliveries have been robust, but installation pace is satisfactory due to execution issues like transmission delays and land-related challenges. We cut FY26E/27E revenue estimates by 10%/21%, respectively," it added with a target price of Rs 71 on the stock.

Shares of Suzlon Energy gained 2.64 per cent to Rs 59.45 on Tuesday against its previous close at Rs 57.92, commanding a total market capitalization more than Rs 80,000 crore. The stock has rebounded more than 20 per cent from its March 2025 lows around Rs 49.71. However, it is still 31 per cent below its 52-week high at Rs 86.04 hit in September 2024.

Motilal Oswal also initiated coverage on Suzlon Energy with a 'buy' rating and a target price of Rs 70 per share, citing it as a global leader in wind energy with an installed capacity of 20.9GW across 17 countries.

"Suzlon is India's top wind energy service provider with the highest installed capacity of 15GW, operating with a vertically integrated structure. Its operations span wind turbine generator (WTG) sales, project execution, foundry and forging components, and operation and maintenance (O&M) services," said Motilal Oswal.

To recall, shares of Suzlon Energy has zoomed nearly 3,500 per cent from its covid-19 lows at Rs 1.70 so far. Compared from the return till its recent 52-week high, the stock has rallied nearly 5,000 per cent or 50 times as of its September 2024 peak. However, the stock is still 85 per cent below its June 2008 peak around Rs 400.

With its highest-ever, and growing, order book of 5.9GW, Suzlon remains upbeat about revival of the industry and resolution of execution challenges in the next 2-3 quarters. The company shared that the feedback on performance of the 3MW wind turbine generator has been very encouraging, said JM Financial.

"We maintain our 'buy' rating on the stock with a target of Rs 71 (from Rs 80 earlier), moderating P/E multiple from 40 times December 2026 to 35 times March 2027 given execution challenges constraining growth beyond FY27 and roll forwarding our EPS from December 2026 to March 2027," it added.