India's Lemon Tree rises as Macquarie retains 'buy' on strong growth prospects

Lemon Tree Hotels

18/03/2025 09:31

** Shares of Lemon Tree LEMO.NS rise 4.9% to 134.86 rupees apiece

** Rise after Macquarie says hotel chain operator is primed for growth uptick, led by renovation of new hotels, rise in number of rooms

** Macquarie says LEMO's valuations are compelling, trading at a 9% discount to historical valuations

** Adds LEMO has potential to double its earnings by fiscal year 2028

** Reiterates "outperform" at a target price of 210 rupees, implying a 64% upside

** Average rating of 15 analysts tracking LEMO is "buy"; median target price is 170 rupees, according to data compiled by LSEG

** LEMO shares down 12% in 2025 so far, compared to 8% drop in Nifty 500 index .NIFTY500 of which it is a constituent

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))