Result Update
Interglobe Aviation Ltd
Aviation
Hold
Current Price 4366
Target Price 4415
October 27, 2024
Interglobe Aviation (INDIGO IN, INR 4,366, downgrade to HOLD) - Headwinds of change; Result Update
Following a 108–133% outperformance to US/European peers since Jan-22, we are downgrading IndiGo to ‘HOLD’ on 1.5x+ valuations to global peers and valuation premium to global LCCs ~2SD above average, slowing domestic