Emkay Research has reiterated its BUY recommendation on Waaree Energies, maintaining a target price of Rs4,260 against the current market price of Rs2,709, implying an upside of over 57%.

Motilal Oswal has initiated coverage of Waaree Energies Limited (WEL) with a strong Buy rating and a target price (TP) of Rs 4,000 per share.

Waaree Energies share price declined 2.11 percent on Friday. The company has witnessed nearly 17 percent decline this year, mainly due to selling in Indian markets.

Waaree Energies share price declined by 1.5 percent on Friday.

Indian markets were trading firm on Monday and NSE Nifty is currently above major resistance levels at 24,430.

HDFC Securities has initiated a Buy recommendation for the Waaree Energies Limited IPO, citing the company’s robust position as India's largest solar PV manufacturer.