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Nearly 80% upside target! Lemon Tree Hotels shares’ target price raised. Key triggers


Target Price Raised,

The target price for Lemon Tree Hotels has been raised by ICICI Securities, a domestic research and brokerage firm. 132 one-piece 125 a piece earlier, indicating a potential upside of 80 percent from its Friday closing price of 73.75 a piece.

In Q3FY23, LTH has its best quarter ever, bringing in 6.2 billion more dollars in revenue and 3.1 billion more dollars in EBITDA. According to the brokerage, LTH is on track to meet its guidance for FY23 revenue growth of 100% year over year. 8.0 billion at an EBITDA edge of 50%.

“While FY23 has been a time of recuperation, from FY24 the emphasis will be on industry request CAGR over supply versus 4-5 percent CAGR of north of 10% from FY23-27E, the organization intends to add one more 2,800 keys by Walk 25 . The note stated, “Take total operational keys to over 11,000, open Aurika Mumbai Airport Hotel owned by 669 keys in H2FY24, and focus on organic debt reduction from FY25E as the Mumbai Airport Hotel’s pending capex of $5 billion is roughly completed by March 24.”

On the basis of a rapid occupancy ramp-up, the brokerage raised its FY25E revenue and EBITDA estimates for the Aurika Mumbai Airport Hotel to 18%.

The brokerage identifies the most significant risks as the prolonged impact of Covid on room and lodging rates as well as price inflation.


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