CLSA maintains BUY rating, Lemon Tree Hotels shares gains
April 12, 2019
of Lemon Tree Hotels gained over 3% percent inraday after brokerage firm CLSA
has maintained a BUY rating on the stock in the latest report, commenting Key
acquisition, new management contract opportunities to help gain scale.
CLSA has given a price target of Rs89 per share. The brokerage said, Lemon
Tree Hotels is gaining scale with the recently announced intention to
acquire ‘Keys’ hotels, which will add 26percnet
to owned room count and 55percent to managed room count.
key benchmark indices -Sensex & Nifty- were progressing through the afternoon
hours of trade with the BSE benchmark gaining 197points at 38,804 levels. The Nifty50
also gained 43pts to trade at 11,639 levels at 3.00pm.