On Friday, JPMorgan maintained an Overweight rating on MakeMyTrip (NASDAQ:MMYT), with a steady price target of $120.00. The firm’s positive stance is based on insights from a recent fireside chat with MakeMyTrip’s CFO, Mohit Kabra, which highlighted the company’s robust growth strategy and market performance.
The company’s stock has demonstrated remarkable strength, with a 142.89% return year-to-date and is currently trading near its 52-week high of $114.92. According to InvestingPro analysis, MMYT appears to be trading above its Fair Value, suggesting investors should carefully consider entry points.
During the discussion, several key points were emphasized, including MakeMyTrip’s aim to grow three times faster than the market rate, with the market expanding at 8% and MakeMyTrip at 25%. This ambitious target appears achievable given the company’s current revenue growth of 28.95% and impressive gross profit margin of 53.95%. Additionally, travel growth has been notably resilient,…
