MakeMyTrip price target lowered to $113 from $115 at BofA

BofA analyst Sachin Salgaonkar lowered the firm’s price target on MakeMyTrip (MMYT) to $113 from $115 and keeps a Buy rating on the shares. For Q3, the firm forecasts MakeMyTrip to report a “soft” 16% year-over-year growth rate on a reported currency basis given the negative impact from IndiGo’s flight disruptions, though the firm’s industry channel checks indicate that the company is doing better than OTA peers and was relatively less impacted, the analyst tells investors in a preview.