MakeMyTrip Faces Sharp Target Cut As JPMorgan Turns Cautious On Growth Outlook

Ashik Bothra May 20, 2026 350 Views

A major downgrade from JPMorgan has put pressure on MakeMyTrip’s valuation, with the brokerage slashing its target price to $60 from $110. The move signals concerns over slowing growth momentum, rising competition, and stretched valuations in India’s online travel segment amid evolving demand trends.