Morgan Stanley Starts Mondee Holdings, Inc. (MOND) at Equalweight, 'Competition and Limited FCF Generation Leave Us On Sidelines'

Morgan Stanley analyst Brian Nowak initiates coverage on Mondee Holdings, Inc. (NASDAQ: MOND) with a Equalweight rating and a price target of $3.00.

The analyst comments "We see MOND at <1% of a ~$600bn offline travel spend TAM, with positive product mix shift driving a 15% '23-'25 rev CAGR and improving EBITDA. But competition from large and established players and limited FCF generation leave us on sidelines. We initiate at EW with a $1.50-$4.50 base case range."

For an analyst ratings summary and ratings history on Mondee Holdings, Inc. click here. For more ratings news on Mondee Holdings, Inc. click here.

Shares of Mondee Holdings, Inc. closed at $2.27 yesterday.

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