UPDATE: Morgan Stanley Reiterates on MakeMyTrip Limited as Operating Environment Improves
In a report published Tuesday, Morgan Stanley analyst Vipin Khare reiterated an Equal-Weight rating on MakeMyTrip Limited (NASDAQ: MMYT), and raised the price target from $12.00 to $19.00.
In the report, Morgan Stanley noted, “We believe the operating environment appears to be improving for MMYT. The stock has moved up since its 2Q results despite a cut in net revenue guidance. We believe prospects of strong growth in F15e are adequately reflected in improved P/S multiples.”
MakeMyTrip Limited closed on Tuesday at $19.89.
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