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Feb 14, 2017, 06.02 PM | Source: Moneycontrol.com

Buy Interglobe Aviation; target of Rs 1105: Axis Direct

Axis Direct is bullish on Interglobe Aviation has recommended buy rating on the stock with a target price of Rs 1105 in its research report dated February 07, 2017.

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Buy Interglobe Aviation; target of Rs 1105: Axis Direct

Axis Direct is bullish on Interglobe Aviation has recommended buy rating on the stock with a target price of Rs 1105 in its research report dated February 07, 2017.

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, Axis Securities Limited |


Axis Direct's research report on Interglobe Aviation

InterGlobe Aviation (Indigo) reported RPK growth of 38% YoYin Q3– in line with our expectation; however, yields declined 16% YoY, leading to decline in EBITDAR margin to 28.9% (vs. 38.9% in Q3FY16). Demonetization adversely impacted consumer spending which led to yields declining sharply in November and December by 20% and 17% respectively (vs. 10% fall in H1FY17). However, management highlighted yields have recovered in January and are down 10% YoY.

Outlook

Pratt & Whitney (P&W), supplier of its GTF engines for A320neo, has significantly ramped up its production of these engines. With improved visibility on delivery from P&W and strong domestic traffic growth, management highlighted it may increase fleet guidance of 154planes for Mar ’18.

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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Buy Interglobe Aviation; target of Rs 1105: Axis Direct

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