JPMorgan Ups MakeMyTrip Target to $120 — Is the Travel Titan Ready to Soar?

1. Analyst Confidence Strengthens

JPMorgan has raised its price target for MakeMyTrip Ltd (MMYT.O) from $110 to $120, reaffirming its Overweight rating.

The revision reflects expectations of 20% revenue growth over the next three years
Margin expansion and operating leverage are seen as key drivers
The firm views the recent 21% stock dip as a buying opportunity

2. Business Fundamentals Stay Robust

3. Strategic Positioning and Outlook

Diversified offerings in bus, hotel, and corporate travel segments continue to support growth
Recent capital raise and share repurchase from Trip.com reshaped ownership structure
Analysts expect MakeMyTrip to benefit from rising disposable incomes and outbound travel

Sources: Investing.com, Times of India, MarketBeat, StockAnalysis.com, MakeMyTrip Investor Relations, Reuters India

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