On Monday, Goldman Sachs (NYSE:) analyst Manish Adukia increased the price target on MakeMyTrip (NASDAQ:MMYT) shares to $120 from the previous $112, while retaining a Buy rating on the stock. The company, which currently trades at $106.41, has demonstrated strong financial fundamentals, earning a “GREAT” financial health score according to InvestingPro analysis. The revision reflects a positive outlook for the online travel company, anticipating continued robust earnings growth driven by several key factors.
Adukia detailed that MakeMyTrip should continue to benefit from strong underlying travel demand, both domestically and internationally. The company has already demonstrated impressive operational efficiency with a gross profit margin of 53.95% and strong revenue growth of 28.95% over the last twelve months. A benign competitive environment and operating leverage are also expected to contribute to margin expansion.
The Goldman Sachs consumer team forecasts a strong performance…
Boutique Travel VC raises investment cap from $1.5M to $10M to lead rounds and support portfolio companies through growth Travel...
Read moreDetails
