Goldman Sachs Downgrades Ola Electric Mobility Stock to 'Sell'
4 reports, 2 independent
Updated Fri 00:00
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What happened
Goldman Sachs downgraded Ola Electric Mobility Ltd to 'Sell' from 'Neutral' and lowered its target price to Rs 23 per share from Rs 39.28. The firm cited a challenging path to free cash flow due to high interest costs and capital expenditure needs. The downgrade was also based on the need for Ola Electric Mobility Ltd to achieve significantly higher topline revenue between FY28E and FY30E.
From businesstoday.in
Why it matters
The revision reflects concerns over Ola Electric Mobility Ltd's ability to generate free cash flow while managing high interest costs and operational losses. The downgrade implies a potential downside of 28 per cent from the closing price of Rs 31.94.
From businesstoday.in
Who's involved
- Goldman SachsGlobal investment bank that issued the downgrade
- boardThe company whose rights issue may be affected by reduced investor confidence
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The entities involved
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Goldman Sachs
American investment bank