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Last Updated : Feb 12, 2019 04:33 PM IST | Source:

Buy SpiceJet; target of Rs 107: Prabhudas Lilladher

Prabhudas Lilladher is bullish on SpiceJet has recommended buy rating on the stock with a target price of Rs 107 in its research report dated February 12, 2019.

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Prabhudas Lilladher's research report on SpiceJet

SJET continues to benefit from its strong presence in high yielding regional market, as it reported a strong 20% growth in revenue to Rs24.9bn led by 16% growth in Available Seat Kilometers (ASK) and 4% increase in Yields. However, high fuel cost (Fuel CASK up 31%) and depreciating INR (up 11%) dampened profits to Rs551mn. SJET continues to outperform the market leader IndiGo in terms of RASK (Rs4.4 vs Rs3.7) We continue to remain positive on SJET as we believe it is well placed to benefit from the booming Indian aviation market given its strong presence in regional markets, large order book of fuel efficient aircrafts and long terms maintenance contract in place.


We expect a CAGR of 21%/11% in Revenue/EBITDAR respectively over the next three years and value the stock at 8x FY21E adj. EV/EBITDAR. Maintain BUY with a TP of Rs107

For all recommendations report, click here

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

First Published on Feb 12, 2019 04:33 pm
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