MakeMyTrip price target raised to $59 from $54 at Citi

Citi analyst Vijit Jain raised the firm’s price target on MakeMyTrip to $59 from $54 and keeps a Buy rating on the shares. The company “reported another stellar quarter,” with growth across key verticals and an expectedly robust operating profit, the analyst tells investors in a research note. The firm says MakeMyTrip continues to benefit from strong underlying travel demand, a favorable competitive environment, and its own product and new-channel development strategies.