India's Phoenix Mills gains; Motilal Oswal upgrades to 'buy'

The Phoenix Mills

02/09/2025 05:08

** Shares of Phoenix Mills PHOE.NS rise 3.2% to 1,566 rupees

** Motilal Oswal upgrades rating to "buy" from "neutral"; raises target price to 2,044 rupees from 1,673 rupees

** Broker cites strong growth visibility across retail, office, and hospitality segments as key drivers

** FY27 forecasts: revenue at 52 bln rupees ($594.24 mln), EBITDA at 35 billion rupees, PAT at 22 billion rupees

** PHOE rated "buy" by 16 analysts on average; median target price is 1,784 rupees – data compiled by LSEG

** Stock down 4.3% YTD

($1 = 87.5060 Indian rupees)

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))