Citi Lowers MakeMyTrip (MMYT) Price Target to $96, Maintains Buy
We recently published an article titled 10 Best Cruise Stocks to Buy Right Now.
On January 21, Citi lowered its price target on MakeMyTrip Limited (NASDAQ:MMYT) to $96 from $108 while maintaining a Buy rating following the company’s third-quarter results. Although estimates were revised to reflect more conservative margin assumptions, the firm characterized underlying growth as solid, given a challenging operating environment, and views the current valuation as attractive.
In the same quarter, MakeMyTrip Limited (NASDAQ:MMYT) reported strong leisure demand, with accommodation volume increasing 20.3% year-over-year and standard hotel bookings rising 20.6%. Room nights in the non-premium segment expanded more than 23% year-over-year. The company expanded its tours and activities offering to over 200,000 bookable experiences across 1,100 cities in 130 countries and now lists more than 97,000 accommodation options across 2,050 cities.
Capital returns remain a priority, with approximately $46.1 million deployed under its buyback program during the quarter, and total authorization increased to $200 million. The company ended the period with over $100 million in cash equivalents, providing financial flexibility to support continued platform expansion. This combination of robust demand growth, product diversification, and disciplined capital allocation underpins a constructive long-term outlook.
Founded in 2000 and headquartered in Gurgaon, India, MakeMyTrip Limited (NASDAQ:MMYT) operates a leading online travel platform offering airline tickets, hotel reservations, holiday packages, and rail and bus bookings. Its scale, expanding inventory, and strong brand recognition position it to benefit from sustained growth in India’s travel and tourism sector.
While we acknowledge the potential of MMYT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 8 Up and Coming Streaming Companies and Services and 11 Best Canadian Growth Stocks to Buy According to Hedge Funds.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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