Elara has upgraded InterGlobe Aviation (IndiGo) to a Buy with a revised target price of ₹5,309. The brokerage highlights significant demand tailwinds as major airport expansions and fleet additions drive growth. IndiGo’s return of P&W aircraft from Q4FY25 is expected to enhance its near-term competitiveness.
Additionally, Indian carriers are gaining market share in international travel, while the shift from long-haul railway AC traffic to air travel could double aviation traffic over the long term. IndiGo’s strategic fleet expansion positions it well to capitalize on these trends, despite challenges like promoter overhang and near-term industry weakness.
