Buy InterGlobe Aviation Ltd., target Rs 1100.0 : Citigroup

Citigroup has Buy call on InterGlobe Aviation Ltd. with a target price of Rs 1100.0. The current market price of InterGlobe Aviation Ltd. is 873.0. Time period given by analyst is year, when InterGlobe Aviation Ltd. price can reach defined target. The global investment bank upgraded the stock to buy as the competition has eased. And, given the fact that the stock has corrected in the past 2 quarters it is now trading at near IPO levels. The global investment bank is of the view that the expectations have been reset. It sees attractive entry points now although September is generally a seasonally weak quarter. But, given asset-light structure, Citigroup believes that the company will have 145 net aircraft by end FY18.