Gaurav Rateria, an analyst from Morgan Stanley, maintained the Buy rating on Makemytrip. The associated price target remains the same with $118.00.
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Gaurav Rateria has given his Buy rating due to a combination of factors including recent strategic leadership changes at MakeMyTrip. The promotion of Mohit Kabra to Group Chief Operating Officer and the appointment of Dipak Bohra as Group Chief Financial Officer are seen as significant moves that could enhance the company’s operational efficiency and financial oversight.
These leadership adjustments are expected to distribute responsibilities more effectively, potentially allowing the CEO to focus on broader strategic initiatives. The experience and expertise of the new CFO, particularly his extensive background in finance and investor relations, are anticipated to strengthen the company’s financial management. Overall, these changes are perceived as positive developments that could contribute to the company’s growth and stability, supporting the Buy rating.
In another report released on September 11, Bank of America Securities also maintained a Buy rating on the stock with a $130.00 price target.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MMYT in relation to earlier this year.