BofA lowered the firm’s price target on MakeMyTrip (MMYT) to $60 from $105 and keeps a Buy rating on the shares. The firm sees the company reporting “soft” Q4 due to the impact on travel from the Middle East war. Travel impacts due to the war could hurt MakeMyTrip’s year-over-year growth by 6%-7% for the quarter, the analyst tells investors in a research note. BofA views the stock’s valuation as “inexpensive” but sees no near-term catalysts for a rally.
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