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ICICI Securities has maintained a "BUY" rating on Lemon Tree Hotels, setting a target price of Rs 164. As of September 2024, the company operates 10,318 keys across 112 hotels and plans to expand by 5,220 keys by FY29, aiming for a total of 15,538 keys. Despite short-term operational constraints due to renovations, revenue and EBITDA are expected to grow at a CAGR of 22% from FY24 to FY27, with a gradual reduction in debt anticipated over the next few years.
Motilal Oswal Wealth Management identifies five key stocks poised to benefit from the upcoming wedding season, predicting a 10-15% upside over the next 3-6 months. The sectors highlighted include Jewellery, Retail, Hotels, and Automotive, with an estimated business of Rs 6 lakh crore from 48 lakh weddings during the November-December period. The selected stocks are Titan, Eicher Motors, Vedant Fashion, Safari, and Lemon Tree.
Lemon Tree Hotels reported better-than-expected operational performance with an EBITDA margin of 46.0%, driven by effective cost control and a revenue beat. Management anticipates a significant recovery in the second half of FY25, projecting a revenue/EBITDA CAGR of 11%/21% from FY25E to FY27E. The stock is rated as a BUY with a target price of Rs 158, reflecting a favorable valuation outlook.
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