On Friday, BofA Securities analyst Sachin Salgaonkar adjusted the price target for MakeMyTrip (NASDAQ:MMYT) from $119.00 to $130.00, while reiterating a Buy rating on the shares. The revision reflects a positive outlook on the company’s earnings potential and its strategic position in the travel industry.
The stock has shown remarkable momentum, with a 147% return year-to-date, trading near its 52-week high of $123. According to InvestingPro analysis, the stock appears overvalued at current levels, though it maintains a “GREAT” overall financial health score.
Salgaonkar cited a steady momentum in MakeMyTrip’s overall business as the reason for increasing the fiscal year 2026-27 earnings per share (EPS) estimates by 1.5-1.7%. However, the analyst noted a slight decline of 2.2% in the fiscal year 2025 EPS projections, attributing this to a non-cash translation impact due to the recent weakness of the Indian Rupee against the .
The price objective was increased following the roll…
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