MakeMyTrip Limited (MMYT): Merger With Ibibo Game Changing - Jefferies

October 19, 2016 11:44 AM EDT
Get Alerts MMYT Hot Sheet
Price: $30.03 +3.55%

Rating Summary:
    9 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade MMYT Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Jefferies analyst, Arya Sen, reiterated his Hold rating on MakeMyTrip (NASDAQ: MMYT) but believes Makemytrip's merger with Ibibo group is a game-changer for the company (and the sector). The trasaction combines the top two players in the Indian OTA space and could pave the path to profitability by reducing competitive intensity and promotional spend.

The analyst stated "based on transaction data and FY15 financials, we estimate 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".

No change to the price target of $19.80.

For an analyst ratings summary and ratings history on MakeMyTrip click here. For more ratings news on MakeMyTrip click here.

Shares of MakeMyTrip closed at $29.45 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Mergers and Acquisitions

Related Entities

Jefferies & Co, Definitive Agreement

Add Your Comment