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Buy Lemon Tree Hotels; target of Rs 90: Motilal Oswal

Motilal Oswal is bullish on Lemon Tree Hotels recommended buy rating on the stock with a target price of Rs 90 in its research report dated August 04, 2022.

August 06, 2022 / 10:13 PM IST
 
 
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Motilal Oswal's research report on Lemon Tree Hotels


LEMONTRE posted robust revenue growth (up 4.2x YoY) in 1QFY23, led by strong demand on account of increased corporate travel and greater demand for MICE (Meetings, Incentives, Conferences, and Exhibitions). This led to ARR surpassing pre-COVID levels by 20%.



Outlook


We raise our FY23/FY24 EBITDA estimate by 4%/5% and maintain our Buy rating on the stock with a TP of INR90.

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Lemon Tree Hotels - 050822 - moti

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first published: Aug 6, 2022 10:13 pm
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