Elara cuts target for this aviation stock by 37%: 3 big concerns investors can’t ignore

Elara Capital has reduced SpiceJet’s target price by 37% to Rs 39 due to delayed fleet growth and a lowered earnings forecast. Despite maintaining an ‘Accumulate’ rating, the brokerage is concerned about Boeing’s delivery, competitors’ fleet renewal, and a decrease in EPS estimate for FY26. They are waiting for fleet expansion to recommend further growth.