MakeMyTrip Charts a New Course: Analyst Cheers and Buyback Blitz Propel Growth

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MakeMyTrip (MMYT) has been in the news after a wave of analyst upgrades, blockbuster $3 billion share buyback, and record-high quarterly results. Here's how the company has performed since its recent analyst rating changes:

Key Highlights

Analyst Upgrades Fuel Hopes

Macquarie also upgraded MakeMyTrip to Outperform from Neutral on June 24, 2025, with a target price of $110, on the basis of good fundamentals and growth opportunities.
Citigroup and BofA Securities maintained their Buy ratings with target prices of $125 and $130, respectively, with high conviction on the company's future.
The analyst consensus is a "Strong Buy," with a mean 12-month price target of around $122, indicating a potential increase of nearly 30% from current levels.
$3 Billion Share Repurchase Scales Down Chinese Interest
MakeMyTrip completed a $3 billion share repurchase with Trip.com, reducing the Chinese investor's stake from 45% to 16.9% as of July 2, 2025.
Three Trip.com-nominated directors have resigned, a significant shift in leadership and alleviating concerns regarding Chinese influence.
Capture Financial Performance
For FY25, MakeMyTrip registered highest ever gross booking of $9.8 billion and profit of $95.3 million riding on record demand in domestic and international travel.
The firm recently issued $3.1 billion of debt and equity financing in order to fund the buyback, indicating avid investor demand.

Stock Performance

MMYT stock is trading at about $95 following its resilience to current market volatility and the announcement of the share buyback.
Analysts project additional growth, with the next quarterly earnings report due out July 29, 2025.

In Conclusion

MakeMyTrip's recent upgrades by analysts, company buyback to dilute Chinese ownership, and stellar financial results have put the company at the top of the list of online travel picks. The stock is widely viewed as a "Strong Buy" by analysts with considerable upside potential within the next year.

Source: Economic Times, Benzinga, Yahoo Finance, MarketScreener, TradingView.