Buy Jet Airways; target of Rs 1400: CLSA

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Buy Jet Airways; target of Rs 1400: CLSA

CLSA Research has recommended buy rating on Jet Airways with a target of Rs 1400. With the holiday season resulting in strong demand, Research firm December to be better than Oct-Nov 07.

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CLSA Research has recommended buy rating on Jet Airways in its December 13, 2007 report. "Jet Airways has had a strong month in Nov-07 in the domestic and international markets with significant improvement in load factors over 2QFY08. With the holiday season resulting in strong demand, we expect December to be better than Oct-Nov 07. Our profit estimates are being downgraded to reflect higher oil prices. However, we continue to believe that operational metrics will incrementally improve and increase our price target to Rs 1400 based on 7.6xFY10CL EV/ Ebitdar. Maintain BUY, "says CLSA Research report.