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INDIGO Consensus Forecast

No. of reports in last year
3
No. of analysts
2
Average Consensus Forecast
1738
Consensus Potential
2.68%

INDIGO Price Target Potential

BrokerageTargetPotential
Geojit Financial Services198416.17%
Prabhudas Lilladher17806.56%

INDIGO Targets in FrontPage Forums

7 Users have submitted 8 trade ideas of Rs. 1,057,115.76 for INDIGO
88% Bullish
12% Bearish
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INDIGO Ratings

Long term INDIGO rating by FrontPage users
4.3/5 (6 Ratings)

3 INDIGO share price target reports by brokerages below. See what is analyst's view on INDIGO share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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INDIGO Share Price Target

INDIGO Share Price Target - Broker Reports - 2021

9-Jun-21
Price @ Call: 1792.7
Target: 1984
ACCUMULATE
28-Jan-21
Price @ Call: 1594.34
Target: 1780
ACCUMULATE

INDIGO Share Price Target - Broker Reports - 2020

29-Oct-20
Price @ Call: 1316.38
Target: 1450
ACCUMULATE
29-Jul-20
Price @ Call: 912.16
Target: 965
ACCUMULATE
We cut IndiGo’s FY22/FY23 EBITDAR by 7.4% and 9.5% respectively as scaling up of operations remains sluggish given 1) localized lockdowns 2) low consumer confidence due to rising incidence of Covid-19 cases With the demand environment likely to remain challenging in the near to medium term, IndiGo is focused on optimizing costs and enhance liquidity by 1) Exploring new networks and revenue model (Charter, Cargo etc) 2) Reducing unit costs by cutting down all possible discretionary expenses 3) efficient utilization of fleet 4) 30% reduction in employee bill through mix of salary cuts, leave without pay and layoffs and 5) Monetizing owned aircrafts through SLB. Through these initiatives, the management aims to generate liquidity to the tune of Rs50-60bn over the year. IndiGo’s plan of returning 123 less efficient A320ceos over the next 2 years while continuing to induct fuelefficient A320neo family will further help reduce unit costs. We expect FY21 capacity to decline by 57% YoY while FY22/FY23 capacity is likely to be 86%/95% of FY20 capacity. Although the near term looks hazy, IndiGo continues to remain better placed than its peers and is likely to emerge stronger from the current crisis given 1) strong balance sheet with Rs184bn cash & equivalents (Rs75bn in free cash) 2) industry leading cost structure and 3) strong management team. We value the stock at 7.5x Sept-22 adj. EV/EBITDAR. Maintain Accumulate with a TP of Rs965/-.
... Read more
29-Jan-20
Price @ Call: 1453.25
Target: 1750
BUY
IndiGo’s 3QFY20 results were ahead of expectations - the demand environment improved in Nov-Dec, post a soft October, which led to the earnings beat. The revenues grew ~25% YoY due to an improvement in yields (+10 QoQ) and higher ancillary revenues (+29% YoY). We roll forward and set a Dec-21 TP of Rs 1,750 (@6x EV/EBITDAR). Maintain BUY.
... Read more
28-Jan-20
Price @ Call: 1492.85
Target: 1547
HOLD
With low yielding capacity (LCC’s) largely taking over Jet’s slots, there is an increase in competitive intensity especially on the metro to metro routes.IndiGo’s reported a marginal increase in yields (1.3% YoY). With a weak domestic yield environment, we expect IndiGo’s CASK to remain underpressure in the near term due to 1) increase in maintenance cost due to re- assessment of contracts 2) DGCA deadline to replace unmodified engines on all A320neos by 31st May 2020 and 3) underutilized pilots/ aircrafts. We estimate ASK/Revenue to grow by 22%/24% over FY20-22 respectively and value the stock at 8x Sept21 adj. EV/EBITDAR. Maintain hold with a TP of Rs1,547.
... Read more

INDIGO Share Price Target - Broker Reports - 2019

26-Nov-19
Price @ Call: 1416.17
Target: 1535
NEUTRAL
Our estimates are highly sensitive to (a) ticket yield, (b) PLF and (c) crude price assumption. A material change to any of these will impact our estimates. The recent spate of conflicts between the promoters could continue posing corporate governance challenges. One of the promoters (Rahul Bhatia) has also submitted request for Arbitration to London Court of Arbitration. Thus, we remain cautious on the stock – it trades at 26.3x FY20E EPS of INR53.7 and 8.2x FY20E adj. EV/EBITDAR. We value INDIGO at 17x FY21E EPS to arrive at a target price of INR1,535. Maintain Neutral.
... Read more
5-Nov-19
Price @ Call: 1434.5
Target: 1596
ACCUMULATE
We believe that the near term cost headwinds and promoter related is- sue have already being factored in the stock price. We value Indigo at P/ E of 22x on FY21E and maintain to Accumulate with a target price of Rs1,596.
... Read more
29-Jul-19
Price @ Call: 1578.7
Target: 1769
BUY
Sector tailwinds, management headwinds. Helped by lower competition in 1QFY20, INDIGO’s yields increased sharply (+13.7/10.8% YoY/QoQ), driving revenue growth of 45/20%. Our estimates rise to bake higher efficiencies, with market share now ~50%. However, friction between promoters will weigh on investor confidence. Valuation multiples will remain constrained, meanwhile. Our revised TP is Rs 1,769 (6x FY21E EV/EBITDAR vs 8x earlier).
... Read more
19-Jul-19
Price @ Call: 1469.19
Target: 1729
BUY
Given its leadership position in the Indian Aviation industry, strong balance sheet, increased focus on expanding to international destinations & industry leading cost structure, we expect IndiGo to continue outperforming industry growth with ASK & Revenue growing at a CAGR of 27% & 33% over FY19-21. Although we do not expect the feud between promoters to negatively impact IndiGo’soperations and execution in the near term, however any adverse regulatory outcome arising from the feud can impact growth rates. We cut down our target adj, EV/EBITDAR multiple from 8.8x to 8x arriving at a revised TP of Rs. 1,729/-. Maintain BUY rating on the stock given strong business fundamentals. Any abnormal increase in crude oil prices & irrational yield environment are a key risk to our call.
... Read more
16-Jul-19
Price @ Call: 1381.15
Target: 1948
BUY
Given the current environment of high yield, strong PLFs ensuing from Jet’sdownfall & favorable ATF prices, we expect IndiGo & SpiceJet to sustain margin expansion and improved profitability. If the feud between Indigo promoters results in any adverse regulatory outcome, it can impact the growth rates and consequently valuations. Retain BUY on IndiGo & SpiceJet with a TP of Rs1.948/- and Rs211/- respectively.
... Read more
12-Jul-19
Price @ Call: 1354.85
Target: 1507
ACCUMULATE
Currently we don’t foresee any impact on the operational and profitability of the company in the medium-term. Since favorable tailwinds like improvement in pricing power, market share gains and industry capacity constraints will sustain earnings outlook. Though there is no change in earnings estimate this disagreement will moderate premium valuation. Accordingly, we cut our valuation from a P/E of 23x to 18x on FY21E and downgrade the rating to “Accumulate”with a target price of Rs1,507.
... Read more
29-May-19
Price @ Call: 1659.1
Target: 1925
BUY
We maintain a positive outlook on Indigo in the long term considering its market leadership position, aggressive capacity addition and healthy bal- ance sheet position. Going ahead with pick-up in capacity addition from competitors will put pressure on overall margins. Additionally with higher capacity coming up in international routes for Indigo, the profitability from the international operations remain to be key monitorable. Given upgrade in earnings outlook, we value Indigo at a P/E multiple of 23x (20x earlier) with a target price of Rs1,925 and upgrade to “BUY” from Accumulate.
... Read more
27-May-19
Price @ Call: 1622.15
Target: 1948
BUY
With ~50% domestic market share & a strong management team in place, IndiGo is well placed to leverage its large domestic network to fuel its international growth. Given its strong balance sheet, high operating efficiency & industry leading cost structure, we expect IndiGo to continue outperforming industry growth with ASK & Revenue growing at a CAGR of 27% & 34% over FY19-21. We value the stock at 8.8x adj. EV/EBITDAR. Maintain BUY with a TP of Rs. 1,948/- Any abnormal increase in crude oil prices & irrational yield environment are a key risk to our call.
... Read more
24-Jan-19
Price @ Call: 1110.4
Target: 1280
BUY

INDIGO Share Price Target - Broker Reports - 2018

18-Dec-18
Price @ Call: 1060.35
Target: 1220
BUY
31-Oct-18
Price @ Call: 881.45
Target: 1018
ACCUMULATE
25-Oct-18
Price @ Call: 817.1
Target: 1083
BUY
31-Jul-18
Price @ Call: 1004.25
Target: 1194
BUY
7-May-18
Price @ Call: 1181.7
Target: 1438
BUY
3-May-18
Price @ Call: 1355
Target: 1651
BUY
19-Mar-18
Price @ Call: 1225.23
Target: 1481
BUY
29-Jan-18
Price @ Call: 1216.72
Target: 1481
BUY
25-Jan-18
Price @ Call: 1237.9
Target: 1307
NEUTRAL

INDIGO Share Price Target - Broker Reports - 2017

22-Nov-17
Price @ Call: 1165.9
Target: 1426
BUY
24-Nov-17
Price @ Call: 1176.19
Target: 1291
NEUTRAL
21-Nov-17
Price @ Call: 1166.35
Target: 1400
ADD
7-Nov-17
Price @ Call: 1240
Target: 1435
BUY
1-Nov-17
Price @ Call: 1258.78
Target: 1435
BUY
1-Nov-17
Price @ Call: 1258.78
Target: 1378
HOLD
30-Aug-17
Price @ Call: 1184.35
Target: 1737
BUY
7-Aug-17
Price @ Call: 1291
Target: 1446
BUY
31-Jul-17
Price @ Call: 1291
Target: 1330
HOLD
10-May-17
Price @ Call: 1140
Target: 1240
BUY
17-Apr-17
Price @ Call: 1090
Target: 1210
BUY
17-Mar-17
Price @ Call: 918.45
Target: 1060
BUY
22-Feb-17
Price @ Call: 845
Target: 947
HOLD
7-Feb-17
Price @ Call: 851.12
Target: 1105
BUY
1-Feb-17
Price @ Call: 848.95
Target: 1010
NEUTRAL

INDIGO Share Price Target - Broker Reports - 2016

2-Aug-16
Price @ Call: 974
Target: 1057
NEUTRAL
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  • INDIGO Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,753.83
    Upside Target 21,722.92
    Upside Target 11,700.83
    Pivot1,669.92
    Downside Target 11,647.83
    Downside Target 21,616.92
    Downside Target 31,594.83
  • INDIGO Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,869.55
    Upside Target 21,816.75
    Upside Target 11,732.05
    Pivot1,679.25
    Downside Target 11,594.55
    Downside Target 21,541.75
    Downside Target 31,457.05
  • INDIGO Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 32,029.63
    Upside Target 21,944.82
    Upside Target 11,796.08
    Pivot1,711.27
    Downside Target 11,562.53
    Downside Target 21,477.72
    Downside Target 31,328.98
  • INDIGO Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,722.92
    Upside Target 21,702.67
    Upside Target 11,690.16
    Pivot1,669.92
    Downside Target 11,649.67
    Downside Target 21,637.16
    Downside Target 31,616.92
  • INDIGO Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,816.75
    Upside Target 21,764.23
    Upside Target 11,731.78
    Pivot1,679.25
    Downside Target 11,626.73
    Downside Target 21,594.28
    Downside Target 31,541.75
  • INDIGO Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,944.82
    Upside Target 21,855.6
    Upside Target 11,800.48
    Pivot1,711.27
    Downside Target 11,622.05
    Downside Target 21,566.93
    Downside Target 31,477.72
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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