Hot Stocks: Axis Capital sees 16-30% upside in 3 hotel stocks. Take a look
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Axis Capital has initiated coverage on several hotel stocks, reflecting optimism about the current upcycle in the Indian hotel industry. The brokerage has given a "Buy" rating to Indian Hotels with a target price of Rs 976 (current price Rs 836), implying a 16% upside. Chalet Hotels has also been rated a "Buy" with a target price of Rs 1,191 (current price Rs 921), offering a potential upside of 29%. Similarly, Juniper Hotels is rated a "Buy" with a target price of Rs 442 (current price Rs 363), indicating a 21% upside. For Lemon Tree, Axis Capital has assigned an "Add" rating with a target price of Rs 153 (current price Rs 142), suggesting a 7% upside. The report highlights that the ongoing upcycle in the hotel industry could sustain for a longer period. While supply addition is forecasted to grow at a 9% CAGR between FY24 and FY27, demand growth is expected to outpace it at 12%.This demand growth ...