Morgan Stanley initiated coverage of Mondee with an Equal Weight rating and $3 price target. The B2B travel marketplace connecting wholesale travel supply to its network has “nascent” penetration of a roughly $600B offline travel spend addressable market, the analyst tells investors. However, competition from large and established players and limited free cash flow generation keep the firm on the sidelines, the analyst noted.
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Read More on MOND:
- Mondee management to meet virtually with JMPS Securities
- Mondee files to sell 1.275M shares of common stock for holders
- Mondee acquires Silicon Valley based AI firm Purplegrid, terms undisclosed
- Mondee price target lowered to $5.50 from $10 at Roth MKM
- Mondee reports Q3 adjusted EPS (10c), consensus (11c)
