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IndiGo Stock Drops 4% as Citi Lowers Target Amid Geopolitical Concerns
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IndiGo Shares Plunge 4% as Citi Cuts Price Target Amid Geopolitical Uncertainty
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CNBC TV18
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12-03-2026, 13:16
IndiGo Shares Plunge 4% as Citi Cuts Price Target Amid Geopolitical Uncertainty
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IndiGo shares declined nearly 4% after Citi cut its price target by 10.5% to ₹5,100 from ₹5,700.
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Citi maintained a 'buy' rating but cited geopolitical uncertainty, rising fuel prices, and a depreciating rupee impacting profitability.
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The airline's international flights are affected by the Iran-Israel-US war, and FDTL norms previously impacted Q3 results.
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Despite challenges, IndiGo's domestic market share rose to 63.6% in January, reversing previous declines.
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Citi trimmed IndiGo's target enterprise value/sales multiple to reflect growing uncertainty on international routes.
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