Kaufman Bros. Starts MakeMyTrip (MMYT) at Buy
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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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Kaufman Bros. initiates coverage on MakeMyTrip (NASDAQ: MMYT) with a Buy rating and $43 price target.
Kaufman Bros. expects strong 40%+ top-line growth for a number of years, driven by:
1) India's travel and tourism industry forecasted to grow at a 10% CAGR through 2020 (second fastest globally after China), which is due to the rapid expansion of India's middle class and growing disposable income;
2) growing Internet penetration, with a lot of headroom for growth (India at 7% vs. China at 32% and U.S. at 77% and);
3) growing online penetration in travel (25% for India vs. 54%-57% for U.S.), leading to online travel growing at a 27% CAGR for the next two to three years and OTAs growing at a 35%-40% CAGR; and
4) share gains in the OTA space
For more ratings news on MakeMyTrip click here and for the rating history of MakeMyTrip click here.
Shares of MakeMyTrip closed at $24.77 yesterday.
Kaufman Bros. expects strong 40%+ top-line growth for a number of years, driven by:
1) India's travel and tourism industry forecasted to grow at a 10% CAGR through 2020 (second fastest globally after China), which is due to the rapid expansion of India's middle class and growing disposable income;
2) growing Internet penetration, with a lot of headroom for growth (India at 7% vs. China at 32% and U.S. at 77% and);
3) growing online penetration in travel (25% for India vs. 54%-57% for U.S.), leading to online travel growing at a 27% CAGR for the next two to three years and OTAs growing at a 35%-40% CAGR; and
4) share gains in the OTA space
For more ratings news on MakeMyTrip click here and for the rating history of MakeMyTrip click here.
Shares of MakeMyTrip closed at $24.77 yesterday.
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