Hyatt-owner Juniper Hotels’ shares can rally up Rs 450, says JM Financial as it initiates a ‘Buy’ ra…

Juniper Hotels, the largest owner of Hyatt-affiliated properties in India, has been given a target price of Rs 450 per share by brokerage firm JM Financial, which has initiated coverage on the hospitality major with a ‘buy’ recommendation, citing a robust growth trajectory projected for the luxury hotel development firm.

This target price marks a 21% potential upside from the stock’s current market price of Rs 372.05 on BSE. Shares of the hospitality major were trading 1.1% lower on Monday.

Juniper Hotels, which operates 2,115 rooms across eight luxury and upscale properties in cities like Mumbai, Delhi, and Bengaluru, is set to benefit from its strategic alignment with global hospitality giant Hyatt and seasoned developer Saraf…