Bond.az reports that BofA Securities reiterated a Buy rating and $60 price target on MakeMyTrip (NASDAQ:MMYT), citing margin expansion and cost control in Q4 results.
The stock currently trades at $41.46. MakeMyTrip's Q4 revenue grew 8% year-over-year, in line with estimates. EBITDA came in 8% to 12% above expectations.
Margins expanded 120 bps sequentially to 16.6%. Marketing expenses as a percentage of gross bookings declined to 5.2%. Constant currency growth reached 10.7% for air, 11.5% for hotels, and 17.1% for bus.
Management noted that West Asia conflict and macro headwinds may impact Q1 growth. The company increases domestic travel offerings to shift customers from international travel.
BofA adjusted its fiscal 2027 and 2028 EPS estimates and maintained the $60 price target.
