Citi has downgraded InterGlobe Aviation (IndiGo) to 'Sell' but raised the target price from Rs 1,300 to Rs 1,400.
IndiGo has lost a bit of market share recently. It peaked at 60 percent in July 2020 and has fallen to 55.5 percent in October. Therefore, Citi believes a lot of good news is already priced in and hence it has downgraded the stock.
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