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

, 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.