Buy Spicejet, target Rs 166: Edelweiss

Edelweiss maintains a buy rating on SpiceJet with a target price of Rs166. Enthused about the growth prospects of the company, Edelweiss is of the view that robust domestic passenger growth to outstrip capacity addition.

Profits is likely to grow with improving yields, and the addition of new planes to prune costs. Edelweiss expects Volume/EPS to grow at a CAGR of 22%/37% over FY17-20.