Analysts raise target on PVR post blockbuster Q1; see up to 25% upside

PVR Q1 review: Shares of PVR Ltd have surged 4 per cent in two days as against 1 per cent rise in the benchmark S&P BSE Sensex

Analysts have raised target on PVR Ltd after the multiplex-chain operator clocked a blockbuster June quarter of FY23 (Q1FY23). They, now, see up to 25 per cent upside in the stock on solid road to recovery.

"PVR outperformed on revenue and Ebitda and turned in highest-ever average ticket price (ATP) and spending per head (SPH). Footfalls continue to revive, driving growth. Continued screen expansion and footfall revival augurs well for growth. This, coupled with a robust pipeline, prompt us to raise EPS by 4.8 per cent and 5 per cent for FY23 and FY24, respectively, which lifts the target price