MakeMyTrip (MMYT) PT Raised to $130 at BofA Securities

BofA Securities analyst Sachin Salgaonkar raised the price target on MakeMyTrip (NASDAQ: MMYT) to $130.00 (from $119.00) while maintaining a Buy rating.

The analyst comments "Our FY25 EPS declines 2.2% mainly on the back of a non-cash translation impact, given recent INR weakness vs USD. We also roll forward our DCF – this leads to PO increase to $130 (vs $119 earlier). Reit. Buy rating on MMYT as we find the company well placed to benefit from travel uptake. Given low competition in the space, we find MMYT well placed to benefit and show strong growth with margin expansion. The announced share buyback of $150mn helps provide downside support to MMYT’s stock price in our view."

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