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Fly News Breaks for August 17, 2018
MMYT, YTRA
Aug 17, 2018 | 08:25 EDT
Jefferies analyst Arya Sen initiated Yatra (YTRA) with Buy rating and $6.75 price target, citing expected benefits from strong air traffic growth in India and low online penetration in hotel booking. While still a "distant No. 2" to MakeMyTrip (MMYT), Yatra has a differentiated strategy of operating in the corporate and travel agent segments while also being more focused on mid-tier and budget hotels in Tier 2/3 cities, said Sen.
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