MakeMyTrip Reiterated With Buy Rating at Citi
<p>Citi analysts reaffirmed a Buy rating and a $43.00 price target on <a href='https://financialmodelingprep.com/financial-summary/MMYT'>MakeMyTrip (NASDAQ:MMYT)</a>. The analyst highlighted positive catalysts for MakeMyTrip, driven by resilient travel demand and strong expectations for the first quarter. </p>
<p>Notably, domestic airline ticketing has shown continued momentum through May 2023, and the hotel sector has experienced decent occupancy trends and sustained high average room rates, as indicated by RBI data in April 2023.</p>
<p>Despite MakeMyTrip's improving fundamentals and a favorable competitive environment among online travel agencies (OTAs), the stock has not participated in the broader NASDAQ/tech rally, with only a 2% year-to-date increase compared to the Nasdaq-100's 39% rise. Nonetheless, the analyst maintains a positive outlook on MakeMyTrip and sees approximately 54% upside potential in their target price.</p>

NASDAQ:MMYT