ICICI Securities Lifts ITC Hotels Target to Rs 235, Sees 35% Upside After Q1
ICICI Securities retains Buy on ITC Hotels and hikes target to Rs 235 from Rs 229 after Q1 FY27 posted 10% YoY revenue and 13% Ebitda growth. Brokerage flags H2 demand recovery and new hotel openings driving fee income, with 11% revenue and 14% Ebitda CAGR projected through FY29E.
ICICI Securities retains Buy on ITC Hotels with hiked target of Rs 235 after Q1 FY27 results showed 10% revenue and 13% Ebitda growth, projecting demand recovery in H2 and new hotel openings driving fee growth.