Morgan Stanley 'overweight' on InterGlobe Aviation, target price Rs 2,057

Morgan Stanley has an overweight rating on InterGlobe Aviation with a target price of Rs 2,057. Rising Covid-19 cases in India and globally pose a risk to air travel, said Morgan Stanley. While crude price decline is a positive, airline earnings are more sensitive to forex and yields, it said. Morgan Stanley said IndiGo is best placed in India but near-term earnings could be volatile. Shares of InterGlobe ended up 1% at Rs 1,211.85 on Thursday.