India's Dreamfolks jumps after Motilal sees 34% upside in next 12 mths

Dreamfolks Services

28/02/2024 06:11

** Shares of airport services aggregator Dreamfolks Services
 DREM.NS  rise 3% to 498.15 rupees
    ** Motilal Oswal Financial Services sees 34% upside in next
12 months for co, which connects lounges and premium airport
facilities with debit and credit card users
    ** Expects DREM to benefit from rapid growth in Indian
airline industry, international expansion
    ** Motilal initiates coverage with "buy", second brokerage
to assume coverage
    ** Says growing adoption of bank cards (with lounge access
as a key benefit) will boost DREM's pay-per-use revenue model
    ** Estimates 20% revenue CAGR for DREM over fiscal 2024-2026
    ** Including today's gains, stock down 6.5% YTD, after
gaining 48% in 2022 - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))