JSW Energy Shares Plunge 10% as Jefferies Cuts Price Target, Trims Estimates

• JSW Energy shares dropped 10% after Jefferies lowered its price target from ₹700 to ₹660, while maintaining a 'Buy' rating.
• Q3 EBITDA rose 2.2x year-on-year but missed estimates by 19% due to lower renewable generation.
• The company is on track to meet its FY26E capacity addition of 3.1 GW, having added 2.5 GW in 9 months.
• Jefferies cut FY26E-FY28E EBITDA estimates by 2-4% and EPS estimates more significantly due to leverage and higher tax rates.
• Despite revisions, Jefferies projects a 41% EBITDA CAGR for JSW Energy over FY25-FY28E, driven by improved execution.

Why It Matters: JSW Energy shares fell after Jefferies cut its price target and estimates despite a 'Buy' rating.