MakeMyTrip upgraded to Outperform from Perform at Oppenheimer Oppenheimer upgraded MakeMyTrip to Outperform with a $28 price target citing the recent pullback in shares and upcoming positive catalysts. Opco sees positive catalysts from the acceleration of eCommerce adoption in India, rise in smartphone penetration levels and momentum in higher-margin hotels.
MakeMyTrip pullback creates buying opportunity, says Oppenheimer Oppenheimer says yesterday's 10% pullback in shares of MakeMyTrip creates a buying opportunity. The firm believes the positive catalyst from the Online travel sector in India is in the "early innings." It reiterates an Outperform rating on MakeMyTrip with a $32 price target.
MakeMyTrip volatility increases on wide share price movement MakeMyTrip October put option implied volatility is at 71, November is a 65, February is at 61; compared to its 26-week average of 54 according to Track Data, suggesting large price movement.