Jet Airways Share Price Rallied More Than 4 Percent In Morning

Jet Airways share price rallied more than 4 percent in morning after Edelweiss upgraded its rating as well as raised target price on the stock.

Edelweiss has upgraded the stock to buy from hold and raised target price to Rs 822 from Rs 548 per share as it feels measures initiated by new CEO would turnaround company's stressed financials.

The company is focussing on sustaining growth via cost rationalisation. The strategy is to focus on cost efficiencies & debt reduction, it said.

Edelweiss raised FY18 EBITDAR margin to 16.8 percent from 15.5 percent.

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