Citi has maintained its ‘Buy’ rating on Phoenix Mills with a revised target price of ₹1,960 per share, slightly lower than the earlier target of ₹1,975. The revised target price indicates a potential upside of 24.4% from current levels.
Key Highlights:
- Target Price Revision: The target price has been adjusted to reflect recent operational trends, while the overall outlook remains positive.
- Consumption Growth: The company continues to benefit from strong consumption growth in key malls, leveraging its position in prime retail markets.
- Pipeline Execution: Phoenix Mills has demonstrated consistent performance in expanding its portfolio of malls across India, highlighting its strong execution capabilities.
Citi’s positive outlook is driven by Phoenix Mills’ ability to capitalize on growing consumer demand and its robust pipeline of new mall developments, making it a strong player in the retail real estate sector.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
