Fundamental Radar: Contra buy? Post 20% fall from highs Lemon Tree is a strong buy for 2023

"With strong improvement in the profitability and higher cash flows, Lemon Tree Hotels return profile is expected to in the coming years with RoE/RoCE standing at 19.2%/12.1% in FY2025 versus 13.8%/9.2% in FY2023," Kruttika Mishra, Research Analyst at Sharekhan by BNP Paribas, said.