Lemon Tree Hotels (NSE: LTP) closed at ₹111 today, up 3% after breaking an 8‑month trendline on the daily chart. The move sets a 6–8% upside to its ₹119 target, a 7% gain from the current level.
The breakout follows a corrective phase that began in August 2024, when the stock dipped to ₹82 and has since recovered 70% of its recent low. Technical traders note a higher‑low formation and a bullish trendline breach, signalling potential momentum for the next 6–8% rally.
Nifty and Bank Nifty have edged higher, with Nifty up 0.5% and Bank Nifty 0.3%, while the market lingers near a 22800 swing high. The broader backdrop of widening oil spreads and a 214‑bps widening of the US10Y/India10Y curve supports a positive risk‑on environment.
Research analyst Aakash K Hindocha of Nuvama Professional Clients set the ₹119 target after comparing the stock to peers and noting a 4% premium over the consensus of ₹113. He flagged the 6–8% upside as attainable if the trendline holds.
Management has projected FY27 revenue growth of 12% YoY and a net profit margin rise to 16%, with Q4 earnings slated for Nov 10. If the company meets or exceeds these estimates, the bullish case for Lemon Tree Hotels could solidify.