ReNew Energy Global price target lowered to $7.50 from $8 at Roth MKM

Roth MKM analyst Justin Clare lowered the firm’s price target on ReNew Energy Global (RNW) to $7.50 from $8 and keeps a Buy rating on the shares following a Q3 miss. The company cited low wind speeds in India for decreased FY25 guidance. Roth lowered its estimates for ReNew on a “modest” reduction to plant load factor estimates and a reduction in FY26.