Nomura sees IndiGo emerging stronger from fuel shock; initiates Buy with Rs 6,000 target
Executive Brief • Key Highlights
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- ✓Nomura initiated coverage on InterGlobe Aviation with a Buy rating and a Rs 6,000 target price.
- ✓The brokerage said IndiGo’s large aircraft order book and low-cost model could help it get stronger despite high fuel prices.
- ✓The target price shows a 20% upside from the September 30 closing price of Rs 4,984.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Nomura initiated coverage on InterGlobe Aviation with a Buy rating and a Rs 6,000 target price, implying around 20% upside from the September 30 close. It believes IndiGo's low-cost model, large aircraft order book and expanding international network could strengthen its competitive edge despite elevated fuel prices.
Nomura has initiated coverage on InterGlobe Aviation, the parent company of IndiGo, with a Buy rating and a target price of Rs 6,000, implying around 20% upside from the stock's September 30 closing price of Rs 4,984. The brokerage believes IndiGo's large aircraft order book, low-cost structure and expanding international network could help it emerge stronger even if elevated fuel prices persist.
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Economic Times
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