Citigroup Cuts Target Price For MakeMyTrip

The move comes amid broader volatility in the travel and tourism sector, influenced by global economic conditions, currency fluctuations, and evolving consumer demand. Analysts suggest that while MakeMyTrip remains a leader in India’s online travel space, external pressures may weigh on its valuation.  

Market Reaction  

The revised target price signals investor caution, with concerns around profitability and competitive dynamics in the travel booking industry. Citigroup’s note highlights the need for MakeMyTrip to balance growth with sustainable margins.  

Strategic Outlook  

Despite the downgrade, MakeMyTrip continues to invest in technology, customer experience, and partnerships to strengthen its market position. The company’s long-term prospects remain tied to India’s growing travel demand and increasing digital adoption.  

Stock Update Highlights  

• Citigroup lowers MakeMyTrip target price to USD 80  
• Previous target stood at USD 96  
• Reflects cautious sentiment on near-term performance  
• Focus remains on profitability and competitive positioning  
• Long-term growth linked to India’s travel demand  

Sources: Reuters, Economic Times, Business Standard