New Delhi: Budget carrier IndiGo’s share price has a potential 35 per cent upside, according to Swiss brokerage UBS. IndiGo has been given a Rs 5,700 apiece target share price. IndiGo’s share price has risen 41.95 per cent year to date to Rs 4,228 apiece.
IndiGo share price history
IndiGo’s share price was down 0.01 per cent to RS 4,228 apiece on Monday.
The company’s stock value was down 1.76 per cent in the past 5 days
IndiGo’s stock value was down 1.63 per cent in the past month
In the past 6 months, the company’s share value rose 41.95 per cent
IndiGo’s share price was up 60.26 per cent in the past year
What UBS said about IndiGo
IndiGo parent Interglobe Aviation was given a BUY recommendation by UBS with a share target price of Rs 5,400 per share citing expectations of double-digit growth in air travel in India.
The airline is expected to gain a share of the international travel market backed by its purchase of Airbus A321 XLR and A350 jets during the medium- to long-term, CNBCTV18 reported.
IndiGo’s compounded annual growth rate is expected to 13 per cent during FY2024-2027, according to UBS.
The Swiss brokerage flagged risks from a sudden surge in supply and fuel price jump.
Other risks may arise from the potential impact of near-term capacity addition by Air India and Vistara arilines in the first quarter of FY25, said UBS.
Kotak gives BUY call on IndiGo
Domestic brokerage Kotak Institutional Equities also gave a BUY call on IndiGo with a target share price of Rs 5,700 apiece, The brokerage forecasted a surge in air fares owing to rising ability of passengers to more and airline losses. While flagging short-term risks from a rise in air fares depending on customers’ willingness to pay more, Kotak forecasted a positive upside to Interglobe Aviation’s stock from a ticket price rise.
IndiGo share price: The budget carrier’s share price is expected to jump over 30 per cent in the long term on expectations o jet fuel prices remaining stable and a potential hike in ticket fares. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
