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MMYT

MakeMyTrip

$24.60

1.38 (5.94%)

13:10
11/04/19
11/04
13:10
11/04/19
13:10

BofA double upgrades MakeMyTrip to Buy, sees revenue bottoming out

BofA Merrill Lynch analyst Sachin Salgaonkar upgraded MakeMyTrip two notches, to Buy from Underperform, following the company's Q2 report, which he expects to be the bottom for the revenue growth. In addition to expecting revenue growth to bounce back in the second half compared to the slow first half, Salgaonkar said the continued decrease in cash-burn was "encouraging." He also sees a favorable risk-reward given that the stock is down 3% year-to-date. Salgaonkar increased his price target for MakeMyTrip shares to $27 from $22.50.

  • 04

    Nov

MMYT MakeMyTrip
$24.60

1.38 (5.94%)

11/27/18
11/27/18
UPGRADE
Target $31

Buy
MakeMyTrip upgraded to Buy after pullback at Nomura Instinet
As previously reported, Nomura Instinet analyst Ashwin Mehta upgraded MakeMyTrip to Buy from Neutral following the stock having corrected by about 45% from its peak on concerns of possibly weaker air traffic growth and moderation of the company's Hotels & Packages growth. Mehta continues to believe break-even is likely in FY21, which is a year later than management indications, but is enthused by the rationalization of discounting visible in the firm's survey of hotels and signs of lower competitive intensity in H&P, the analyst tells investors. Mehta lowered the price target on MakeMyTrip shares to $31 from $35.
02/04/19
OPCO
02/04/19
DOWNGRADE
OPCO
Perform
Oppenheimer downgrades Yatra to Perform on lack of catalysts
Oppenheimer analyst Jed Kelly downgraded Yatra Online (YTRA) to Perform from Outperform and removed his prior $8 price target. The analyst sees a lack of near-term catalysts for the shares. The stock will likely be range-bound based on decelerating revenue trends, Kelly tells investors in a research note. The analyst forecasts fiscal 2020 marketing leverage of up 370 basis points year-over-year, which he calls "underwhelming" for an emerging market company growing revenue in the mid-teens. Further, this should also limit the narrative that Yatra's corporate segment is a differentiator to MakeMyTrip (MMYT), says Kelly.
04/30/19
BOFA
04/30/19
DOWNGRADE
Target $25
BOFA
Underperform
MakeMyTrip downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Sachin Salgaonkar double downgraded MakeMyTrip to Underperform from Buy and cut its price target to $25 citing weak fundamentals and unfavorable risk/reward. The analyst expects the Jet Airways grounding to negatively impact MakeMyTrip traffic volumes as ticket prices move up. Salgaonkar now expects EBITDA breakeven to be pushed to 7-8 quarters versus his previous estimate of four quarters.
11/04/19
BOFA
11/04/19
UPGRADE
BOFA
Buy
MakeMyTrip upgraded to Buy from Underperform at BofA/Merrill
BofA/Merrill upgraded MakeMyTrip to Buy from Underperform.

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