MakeMyTrip Limited (MMYT): Merger A Game Changer - Jefferies
- Oil steady around $50 on doubts over OPEC output cuts
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- Universal Health (UHS) Disputes and Denies Conclusions in BuzzFeed Article
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies analyst, Arya Sen, reiterated his Buy rating on shares of MakeMyTrip (NASDAQ: MMYT) after the announcement of the merger with Ibibo group.
The analyst believes this is a game-changer for the company (and the sector) as it combines the top two players in the Indian OTA space and should pave the path to profitability by reducing competitive intensity and promotional spend. Based on transaction data and FY15 financials, the analyst estimates US$260mn net revenues for the combined entity in FY16 which could rise to US$500mn by FY18, with US$300mn coming from standalone hotel booking.
Shares of MakeMyTrip closed at $24.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Upgrades Lululemon Athletica Inc. (LULU) to Buy; Sees Upside Continuing
- Mizuho Securities Upgrades Tailored Brands (TLRD) to Buy
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!