Morgan Stanley has cut its target price for MakeMyTrip Ltd (MMYT.O) to $106 from $113, reflecting a cautious stance on near-term growth prospects. While the company continues to benefit from strong demand in India’s travel sector, analysts highlight valuation pressures and evolving market dynamics as reasons for the revision.
MakeMyTrip Ltd, India’s leading online travel services provider, has come under analyst scrutiny as Morgan Stanley revised its target price downward. The adjustment signals a more cautious outlook on the company’s valuation, even as demand for travel bookings remains robust across air, hotel, and holiday segments.
Key Highlights
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Target Price Revision: Morgan Stanley lowered MakeMyTrip’s target price to $106 from $113.
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Reasoning: Reflects valuation concerns and evolving market conditions.
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Company Context: MakeMyTrip continues to benefit from strong demand in India’s travel and tourism sector.
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Market Impact: The revision may influence investor sentiment in the short term.
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Strategic Outlook: Focus remains on expanding digital offerings, enhancing customer experience, and capturing growth in tier-2 and tier-3 markets.
Sources: Reuters, Mint, Business Standard, Morgan Stanley Research