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Fly News Breaks for August 16, 2017
MMYT
Aug 16, 2017 | 07:52 EDT
Morgan Stanley analyst Parag Gupta said MakeMyTrip shares have been week following Q1 results on investor concerns that the company is "buying growth." He views it differently and said incremental revenue in the quarter was higher than incremental marketing spend and conversion rates are improving at a time when competitive intensity is relatively lower than last year. Gupta would use the recent weakness in MakeMyTrip as a buying opportunity and reiterates his Overweight rating and $45 price target.
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