Lemon Tree Hotels share price rises nearly 5%; Motilal Oswal predicts 26% upside
Lemon Tree Hotels share price jumped almost 5 per cent in morning trade on BSE on Tuesday, January 2. Lemon Tree Hotels share price opened at ₹120.90 against the previous close of ₹118.70 and rose 5 per cent to the level of ₹124.50.
Brokerage firm Motilal Oswal Financial Services has a buy call on the stock with a target price of ₹150, implying a 26 per cent upside potential.
“We expect strong momentum for Lemon Tree Hotels to continue going forward, led by: (i) further improvements in occupancy and ARR on the back of resilient demand and a boost from recently opened convention centres in key markets; (ii) an increase in ARR with the addition of Aurika Sky City Mumbai and room renovations; and (iii) addition of hotels under management contracts,” said Motilal Oswal.
The brokerage firm expects Lemon Tree Hotels to deliver revenue, EBITDA and adjusted PAT CAGR of 21 per cent, 22 per cent and 38 per cent, respectively, over FY23-26 and improve RoE to nearly 22 per cent by FY26 from 14 per cent in FY23.
(More to come)
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 02 Jan 2024, 09:32 AM IST
