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InterGlobe Aviation Target Slashed, But Upside Seen
6 Apr
Summary
- Emkay Global adjusted target price to Rs 5,500 from Rs 6,300.
- Brokerage anticipates 31.5% stock upside due to government aid.
- IndiGo's market leadership and improving profits underpin outlook.
Emkay Global has adjusted its target price for InterGlobe Aviation, lowering it by 13% from Rs 6,300 to Rs 5,500. Despite this revision, the brokerage firm continues to hold a 'Buy' rating on the stock.
Emkay Global forecasts a substantial 31.5% upside potential for InterGlobe Aviation. This positive outlook is primarily driven by anticipated government intervention to stabilize fuel prices. Additionally, the recent appointment of a high-profile Chief Executive Officer is seen as a significant catalyst.
The airline's strong market position, demonstrated resilience during past crises, and improving profitability spreads further bolster Emkay Global's favorable view. These factors collectively suggest a robust future for the company.
