Shares of InterGlobe Aviation, which operates IndiGo, fell nearly 6% on March 23, hitting a fresh 52-week low after brokerage firm Goldman Sachs sharply cut its earnings estimates.
The decline comes amid concerns over profitability and cost pressures in the aviation sector. Despite lowering its estimates, Goldman Sachs maintained a “buy” rating on the stock, signaling confidence in the airline’s long-term growth potential.
The brokerage has set a price target of ₹5,200 per share, indicating a potential upside of around 25% from the previous closing level. This suggests that while near-term challenges persist, future prospects remain strong.
The development highlights ongoing volatility in aviation stocks, as airlines navigate fluctuating fuel prices, operational costs, and competitive market dynamics.