Nomura starts IndiGo coverage with Buy rating and Rs 6,000 target
In short
Nomura started covering InterGlobe Aviation, the owner of IndiGo, with a Buy rating and a Rs 6,000 target. The broker says that could mean about 20% upside from the September 30 close.
It sees the airline’s low-cost model, big aircraft orders and growing overseas network as strengths. The report does not say how fuel prices may change next or what the stock will do now.
What the reporting says
Nomura initiated coverage on InterGlobe Aviation, which operates IndiGo, with a Buy rating and a Rs 6,000 target price, implying around 20% upside from the September 30 close. The brokerage said IndiGo’s low-cost model, large aircraft order book and expanding international network could strengthen its edge despite elevated fuel prices. The source does not state the date of the report or whether fuel costs have already moved.
Why it matters
Nomura initiated coverage on InterGlobe Aviation with a Buy rating and a Rs 6,000 target, pointing to roughly 20% upside from the September 30 close. It argued that IndiGo’s low-cost model, aircraft order book and international expansion can help it compete even with elevated fuel prices. The note is supportive for the airline’s shares, but the source does not quantify the fuel hit or provide a separate earnings forecast in the excerpt.