Prabhudas Lilladher is bullish on SpiceJet has recommended buy rating on the stock with a target price of Rs 115 in its research report dated November 28, 2016.
Prabhudas Lilladher's research report on SpiceJet
Passenger Load Factor (PLF) remained high through Q2FY17 for SJ and is expected to continue through FY17. While Q2 is a seasonally sluggish period for the aviation industry, focus on cargo and other ancillary services is expected to provide revenue growth ahead for SJ in H2. We also note that the high PLF should enable SJ some flexibility in pricing action if required in the event of a sharp increase in crude price. We maintain our estimate and target price and re‐iterate a “BUY”.
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