Buy Spicejet Ltd., target Rs 115.0 : Prabhudas Lilladher

Prabhudas Lilladher has Buy call on Spicejet Ltd. with a target price of Rs 115.0. The current market price of Spicejet Ltd. is 62.2. Time period given by analyst is year, when Spicejet Ltd. price can reach defined target. Prabhudas Lilladher said the airline had robust revenue growth for Q1FY17. It said that with lower inter est expense and higher non operating income, reported profit was `149 crore, which was higher than expectation of `120 crore. It pegged PE at 6.8x FY17 and 4.9x FY18 estimated earnings. Peer, Jet Airways is trading at 7.72x FY17 estimated earnings, according to Bloomberg estimates.