Goldman Sachs Starts MakeMyTrip (MMYT) at Neutral

Goldman Sachs initiates coverage on MakeMyTrip (NASDAQ: MMYT) with a Neutral rating and a price target of $27.00.

"Limited near-term earnings visibility makes us cautious despite long-term solid outlook: We estimate MMYT to make net income loss in FY14/FY15 and a small profit in FY16. Given lower earnings visibility and risks of further losses due to increasing competition, we initiate on MMYT with a Neutral rating," said analyst Sachin Salgaonkar.

For an analyst ratings summary and ratings history on MakeMyTrip click here. For more ratings news on MakeMyTrip click here.

Shares of MakeMyTrip closed at $23.81 yesterday.

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