India's Juniper Hotels rises after CLSA initiates coverage with 'outperform'

Juniper Hotels

05/12/2024 07:40

** Shares of luxury hotels operator Juniper Hotels  JUNI.NS 
rise 3.5% to 384.30 rupees, set for fourth straight gaining
session
    ** CLSA initiates coverage with 'outperform' and TP at 430
rupees, which is 16% premium to prev close
    ** It is the second brokerage to start coverage on JUNI
after Elara Securities' "buy" in March - LSEG
    ** CLSA sees healthy growth in JUNI's EBITDA in next 3 years
from improvement in occupancy and average revenue per room at
Grand Hyatt Mumbai and continued strong average revenue per room
in Andaz Hotel, Delhi
    ** Hoteliers like JUNI well-positioned to benefit from
India's growing hospitality sector - CLSA
    ** Juniper Hotels operates 2,115 rooms across 8 hotels, most
of which are Hyatt-affiliated
    ** Stock up ~5% since listing in February

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))