Sharekhan has given Buy on the stock with a revised price target ( recommendation for Indian Hotels Company with a target price of Rs. ekhan is bullish on Indian Hotels Company has recommended buy on the stock with a revised price target (PT) of Rs. 286 in its research report issued on Feb 02, 2022
A strong recovery in domestic leisure travel would help IHCL in posting better performance in the medium term (Q4 performance will be affected by emergence of third wave). Strong focus on building an asset-light model, market share gains in key markets and recovery in the business environment will help IHCL recover to 100% of pre-COVID levels in FY2023 with strong growth in profitability. Further the company is focusing on strengthening its balance sheet by a sustained reduction in debt, which augurs well from the long term perspective. The stock trades at 29.2x/21.3x its FY2023E/24E EV/EBIDTA. We maintain a Buy on the stock with revised price target of Rs. 286.