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IDBI Capital Report
Lemon Tree Hotels Ltd. remained on brokerage radar after IDBI Capital reiterated its 'Buy' rating on the hotel operator and maintained a target price of Rs 158, implying an upside potential of about 46% from the current market price of Rs 108.
The brokerage remains positive on the company's expansion pipeline, improving operating metrics and strong positioning in the mid-market hospitality segment.
The brokerage continues to like Lemon Tree amongst the mid-scale hotels segment given its scale of operations and better operating margin compared to other mid-scale hotels.
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Further, the managements' robust outlook on inventory addition and balance sheet strengthening through debt repayment is encouraging.
IDBI Capital believes Lemon Tree is poised to deliver consistent earnings growth in near future.
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