‘Wings Getting Chipped’, Says Kotak After Slashing Price Target — Check Revised Potential Update
IndiGo share price faced a fresh setback on Thursday after a brokerage cut price target following the carrier lowering its near-term expectations.
Kotak Securities lowered its price target for the airline to Rs 5,350 from Rs 5,700, saying IndiGo may face pressure as rivals move to use its unused flight slots and as the carrier works to hire more experienced pilots.
Morgan Stanley kept its ‘Overweight’ view, with a target of Rs 6,540, and said the long-term outlook for the company remains steady despite weak earnings in the coming months.
Kotak said about one in ten of IndiGo’s daily flights could be exposed to competition as Air India, Akasa and SpiceJet look to take over available slots. The firm cited aviation expert Sanjay Lazar,…
