Market Overview

UPDATE: Oppenheimer Lowers PT to $20 on MakeMyTrip Limited on Latest Earnings Report

Related MMYT
Benzinga's Top Initiations
Sector Gainers And Losers For The Week Ending February 14, 2014

Oppenheimer reiterated its Outperform rating on MakeMyTrip Limited (NASDAQ: MMYT) but reduced its price target from $22 to $20.

Oppenheimer commented, "Net revenue of $20.2M was below our recently cut $22.9M largely on lower transaction volumes and margins. FY13 net revenue outlook was cut to $89-91M from $99-102M. While it's hard to call the timing on a turnaround in passenger volumes, we estimate it to turn positive starting April 2013. Hotels continued their growth momentum up 47% YoY. Growth in transaction volume here was further bolstered by the Hotel Travel Group acquisition. Maintain Outperform but lowering PT to $20 from $22 on lowered expectations."

MakeMyTrip Limited closed at $12.58 on Tuesday.

Posted-In: OppenheimerAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (MMYT)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free