MakeMyTrip downgraded to Neutral from Outperform at Macquarie

Macquarie analyst Aditya Suresh downgraded MakeMyTrip to Neutral from Outperform with a price target of $60, up from $50. The analyst also removed the shares from the firm’s conviction list. The firm now sees a balanced risk/reward profile following a doubling in the shares. Macquarie still likes MakeMyTrip’s positioning and sees a favorable thematic backdrop, but says this is now priced into the shares.