This article talks about the launch of coverage and ratings of MakeMyTrip Limited by seven brokerages on April 12, 2023. MakeMyTrip is a tech-hospitality company that operates in the online travel market. The coverage and ratings were published by different brokerages from around the globe, including Barclays, Citigroup, Goldman Sachs, Morgan Stanley, Nomura, UBS, and Jefferies.
The article goes on to discuss the different ratings and target prices given by each brokerage. Barclays rated MakeMyTrip as equal-weight with a target price of $38, while Citigroup gave a neutral rating with a target price of $35. Goldman Sachs gave the company a buy rating with a target price of $42, while Morgan Stanley also rated it as overweight with a target price of $44. Nomura gave MakeMyTrip a buy rating with a target price of $41, and UBS rated the company as neutral with a target price of $36. Jefferies had the most optimistic rating, giving MakeMyTrip a buy rating with a target price of $47.
The article also discusses the factors influencing these ratings and target prices. For instance, the analysts at Barclays cited MakeMyTrip’s strong revenue growth but expressed concern about the company’s margins. Citigroup analysts also praised the company’s growth potential but expressed doubts about profitability, while Goldman Sachs was more positive about the company’s long-term prospects. Morgan Stanley focused on MakeMyTrip’s dominance in the Indian market and its potential for expansion.
Overall, the article provides an overview of the ratings and target prices that MakeMyTrip received from different brokerages and the factors influencing these ratings. It also underscores the complexity of the world of stock trading, which can be intimidating for beginners but exhilarating for seasoned traders.