MakeMyTrip (MMYT) PT Raised to $120 at JPMorgan

JPMorgan analyst Ankur Rudra raised the price target on MakeMyTrip (NASDAQ: MMYT) to $120.00 (from $100.00) while maintaining a Overweight rating.

The analyst comments: "We maintain our OW rating on MMYT and increase our Dec-25 PT to $120 as we continue to expect 20% revenue growth over the next three years along with continued margin expansion. We think the increasing online penetration across each of its segments can help sustain 20%+ growth over the medium term, while operating leverage from platform benefits as well as limited competition can help margins expand. The stock is down 21% in the last 10 days (vs Nasdaq flat) after rising 24% in Sept, and we see the sharp recent correction as providing an attractive entry point as the fundamental story has not changed on either growth or margins. MMYT should continue to enjoy secular growth from Air (international share) and Corporate businesses. MMYT is evolving into a high-quality play on aspirational consumption that can enjoy several secular trends across rising disposable incomes, greater budgets for travel, and propensity to travel."

You May Also Be Interested In

• Bumble Inc. (BMBL) PT Lowered to $3.20 at Citi
• Western Union's Intermex deal gets NY approval, California suspended
• L Catterton to sell $1B in Birkenstock shares in secondary offering