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ICICI Securities initiated 'buy' on ITC Hotels with a target price of Rs 250, expecting growth.
Summary
ICICI Securities initiated coverage on ITC Hotels with a 'buy' rating and a target price of Rs 250, anticipating multi-year growth. The brokerage highlighted the company's potential for portfolio expansion by 2030, driven by managed properties and a strong financial position.
Key Points
- ICICI Securities initiated coverage on ITC Hotels.
- Rating: 'Buy'
- Target Price: Rs 250
- Growth drivers: Managed properties and strong net-cash position.
- Portfolio expansion expected by 2030.
Full Article
ICICI Securities has initiated coverage on ITC Hotels with a 'buy' rating and a target price of Rs 250. The brokerage anticipates a multi-year growth phase for the hospitality major. This growth is expected to be fueled by a rapid scale-up in managed properties and a strong net-cash position. The company's robust pipeline could expand its portfolio significantly by 2030.
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