MakeMyTrip price target lowered to $80 from $117 at Goldman Sachs

Goldman Sachs analyst Manish Adukia lowered the firm’s price target on MakeMyTrip (MMYT) to $80 from $117 and keeps a Buy rating on the shares ahead of its Q4 results. The company has seen steady estimate downgrades through FY26, a function of both demand headwinds and translation impact due to INR depreciation, the analyst tells investors in a research note. AI disruption fears, potential India listing and concerns on balance sheet from potential CB redemption have weighed on the stock’s multiples, the firm added.