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Jefferies foresees record EBITDA for Adani Airport

Thehindubusinessline

· 4m
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US investment bank Jefferies has initiated coverage on Adani Enterprises, predicting a record annual EBITDA growth of 47% over the next four years for the company's airport business. Adani Airport Holdings, which operates seven airports in India with an eighth coming, is the most likely candidate for listing. Jefferies notes that airports in India are a lucrative business, benefiting from under-penetrated Indian aviation growth and non-aero revenue streams such as retail and concessions. Adani Airport also plans to develop high-yielding businesses and real estate projects at its airports. Jefferies has set a one-year price target of INR 3,800 per share for Adani Enterprises.

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