India's Leela Hotels jumps as Jefferies initiates coverage with Street-high PT
BUZZ-India's Leela Hotels jumps as Jefferies initiates coverage with Street-high PT ** Jefferies initiates coverage on Leela Palaces Hotels & Resorts LEEA.NS with a "Buy" rating and Street-high target price of 675 rupees
** LEEA up as much as 4.97%
** Says Leela is uniquely positioned as India's only listed pure-play luxury hotel operator, benefiting from an owned-led expansion strategy featuring a 10-hotel pipeline and industry-leading room growth
** Sees Brookfield's backing as a key strength, providing capital, hospitality expertise and governance support to accelerate expansion, including international growth opportunities and mixed-use developments
** Sees strong earnings growth, with EBITDA/PAT CAGR of about 19-20% through FY29, supported by new room additions and sustained premium travel demand, while citing project delays and travel disruptions as key risks
** Seventeen analysts have a "buy" rating on avg; median PT is 602 rupees - data compiled by LSEG
(Reporting by Urvi Dugar in Bengaluru)
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