Renew Energy Global

RNW · NASDAQ

$6.87−$0.01 (−0.15%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $6.88

RNW analyst rating

HoldConsensus of 1 analyst over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold1
Underperform0
Sell0

12-month price target · 6 analysts

Average $7.48 (+8.9% upside)

Low: $6.09
Now: $6.87
High: $9.03

Upgrades and downgrades

The latest rating actions, newest first

RNW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Mizuho	Jun 1, 2026	Maintains	Neutral	$7.00 → $6.75	44%
Mizuho	Dec 16, 2025	Maintains	Neutral	$8.15 → $7.00	44%
Mizuho	Oct 29, 2025	Downgrade	Outperform → Neutral	$10.00 → $8.15	44%

The case for and against

Updated Oct 10, 2024

Bull case

ReNew Energy Global PLC has demonstrated a modest growth in its total portfolio, increasing from 13,745 MW to 13,756 MW in FQ2, underpinned by a favorable auction environment in India, where 50GW are projected to be auctioned annually to meet the 500GW renewable energy target by 2030. The company's strong positioning is further highlighted by a significant 20% year-over-year increase in India's peak power demand, alongside an anticipated 35% year-over-year growth in per-share EBITDA for FY'25, driven by an upward trend in average tariffs and stable financing costs. Additionally, with a total of 13.8GW contracted mature portfolio and 3.1GW of projects secured at auction, ReNew Energy is well-positioned for sustained growth in both FY'25 and FY'26.

Bear case

ReNew Energy Global PLC faces a negative outlook primarily due to lower-than-expected demand for its clean energy projects, which may adversely impact its revenue generation. The company has revised its FY'25 revenue forecast down to $1.15 billion, a decrease from the previous estimate of $1.24 billion, driven by a lower end-of-year capacity estimate and reduced deployment forecasts. Additionally, the financial stability of its offtakers poses a risk; if their conditions worsen, the demand for ReNew's utility-scale projects could decline, directly affecting the company's revenues and profitability.

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