Even as cash-strapped carrier Jet Airways continues to see troubled times, foreign brokerage firm Credit Suisse says that low-cost airline Indigo would benefit from the current turbulence in the sector, while upgrading its stock price target.
Shares of Interglobe Aviation which runs the Indigo airline surged up to 2% in the early morning trade after foreign brokerage firm Credit Suisse upgraded its rating and target price on account of better yields and fleet addition. The shares gained by more than 1.7% in the morning trade to Rs 1,452.05 on BSE.
Credit Suisse has upgraded its rating for InterGlobe Aviation to ‘Outperform’ from an earlier rating of ‘Neutral’. It has also raised its target price to Rs 1,650 from Rs 1,075. Read More