Maxim Group Maintains a 'Buy' on MakeMyTrip (MMYT); Revenue Beat; Continued Opportunity on Fast-Growing Indian Travel Market
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Price: $67.52 --0%
Rating Summary:
11 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
Rating Summary:
11 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 17 | New: 4
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Maxim Group maintains a 'Buy' on MakeMyTrip (NASDAQ: MMYT) price target lowered from $36 to $25.
Maxim analyst says, "We continue to recommend that investors buy shares of MMYT. The weak market performance provides an opportunity for investors to buy a growth stock trading at reasonable multiples. MMYT is trading at 26.9x our P/E calendar 2012/FY13 estimate, which is reasonable in our view, given the size of the growing market opportunity and a PEG of 0.7x. Comparable companies are trading at about 59x 2012 consensus P/E ratio and a PEG of 0.9x. Alternatively, MMYT is trading at about 16.6x our calendar 2012/ FY13 EV/EBITDA multiple – a discount compared to comps trading at 19.3x. Albeit concerns regarding inflation and uncertain economic outlook, we continue to believe that the fundamental story behind MMYT is intact."
For more ratings news on MakeMyTrip click here and for the rating history of MakeMyTrip click here.
Shares of MakeMyTrip closed at $17.46 yesterday.
Maxim analyst says, "We continue to recommend that investors buy shares of MMYT. The weak market performance provides an opportunity for investors to buy a growth stock trading at reasonable multiples. MMYT is trading at 26.9x our P/E calendar 2012/FY13 estimate, which is reasonable in our view, given the size of the growing market opportunity and a PEG of 0.7x. Comparable companies are trading at about 59x 2012 consensus P/E ratio and a PEG of 0.9x. Alternatively, MMYT is trading at about 16.6x our calendar 2012/ FY13 EV/EBITDA multiple – a discount compared to comps trading at 19.3x. Albeit concerns regarding inflation and uncertain economic outlook, we continue to believe that the fundamental story behind MMYT is intact."
For more ratings news on MakeMyTrip click here and for the rating history of MakeMyTrip click here.
Shares of MakeMyTrip closed at $17.46 yesterday.
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