Collins Stewart Starts MakeMyTrip (MMYT) at Buy; Leader in Indian Online Travel, With Multiple Growth Drivers
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Price: $60.42 -0.53%
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Collins Stewart initiates coverage on MakeMyTrip (NASDAQ: MMYT) with a Buy. PT $32.00.
Collins analyst says, "Well positioned to grow at 35%-40%+ rates for many years. 1) India's travel and tourism industry is forecasted to grow at a 10% CAGR through 2020 (2nd fastest in the world), driven by rapid growth in India's middle class and per capita disposable income; 2) growing internet penetration, with a lot of headroom (India at 10% vs. China at 36%, US at 78%); 3) growing online penetration in travel (27% for India vs 57% US), leading to online travel growing at 24% CAGR; 4) OTAs growing at 35% CAGR as they gain share in online travel due to share gains vs. suppliers and offline agents; and 5) MMYT gaining share against other OTAs."
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 $23.86 yesterday.
Collins analyst says, "Well positioned to grow at 35%-40%+ rates for many years. 1) India's travel and tourism industry is forecasted to grow at a 10% CAGR through 2020 (2nd fastest in the world), driven by rapid growth in India's middle class and per capita disposable income; 2) growing internet penetration, with a lot of headroom (India at 10% vs. China at 36%, US at 78%); 3) growing online penetration in travel (27% for India vs 57% US), leading to online travel growing at 24% CAGR; 4) OTAs growing at 35% CAGR as they gain share in online travel due to share gains vs. suppliers and offline agents; and 5) MMYT gaining share against other OTAs."
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 $23.86 yesterday.
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