MakeMyTrip soars on BofAML's double upgrade - thefly.com

MakeMyTrip

04/11/2019 19:08

** Shares of the Indian travel website operator MakeMyTrip
Ltd  MMYT.O  up 16.3% at $27.1 in afternoon trade
    ** Stock set for its best day in over 3 years, if gains hold
    ** BofA Merrill Lynch analyst Sachin Salgaonkar upgrades
MakeMyTrip by two notches, to "buy" from "underperform", raises
PT to $27 from $22.50 - thefly.com (https://bit.ly/2qj68dy)
    ** MMYT falls short of Q2 profit and revenue estimates on
Monday, but BofA expects a reversal in fortunes
    ** BofA expects revenue growth to bounce back in the second
half and says the continued decrease in cash-burn was
"encouraging"
    ** Including session gains, stock up 10.6% this year

 (Reporting by Bharath Manjesh in Bengaluru)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 8400;))