Citi analyst Vijit Jain lowered the firm’s price target on MakeMyTrip (MMYT) to $70 from $80 and keeps a Buy rating on the shares. The firm notes adjusted EBIT at $46M was 2% ahead of its estimates, while constant currency growth in gross bookings/adjusted revenues stood at 5%/13% year-over-year. Citi expects quarter-over-quarter and year-over-year growth in the near-term and build in 3% and 6% year-over-year growth in gross booking value in Q1 and FY27. The firm is lowering estimates to factor in prolonged impact of the geopolitical situation.
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