Motilal Oswal has downgraded Le Travenues Technology's rating from BUY to Neutral and set a target price of ₹215 in its research report dated August 06, 2026. According to the brokerage firm's analysis, the stock valuation is based on 65x FY28E EPS, reflecting concerns about margin and profit pressure amid continued investments in new initiatives.
As reported by Motilal Oswal, the company is experiencing margin and profit pressure due to ongoing investments in new growth opportunities. Management has indicated that mature businesses such as Trains, Flights, and Buses are already generating operating leverage, but these gains are being consciously reinvested into future growth opportunities rather than immediately expanding EBITDA margins.
The brokerage's neutral stance reflects the balance between the company's operational improvements in established segments and its strategic focus on future growth initiatives. The target price of ₹215 represents Motilal Oswal's assessment of the stock's fair value considering both current performance and future growth potential amid the ongoing investment phase.
