Citi opens ‘positive catalyst watch’ on MakeMyTrip into earnings

Citi analyst Vijit Jain opened a “30-day positive catalyst watch” on shares of MakeMyTrip citing “resilient” travel demand and expectations of a “strong” Q1 report. The analyst says the company’s domestic airline ticketing continued to see strong momentum through May and that on the hotel side, occupancy trends sustained high average-room-rates. CIti has a Buy rating on MakeMyTrip with a $43 price target.